FXstreet.com (Córdoba) - The Canadian dollar extended intraday losses versus the greenback after a report showed expected Canadian consumer prices came in softer-than-expected in July, pushed back expectations for the timing of future Bank of Canada tightening.
USD/CAD rose toward a daily high of 0.9897 as an immediate reaction but quickly returned to pre-data levels around 0.9885, where it is up 0.2% on the day, having hit a 3-month low of 0.9859 late NY session Thursday.
In terms of technical levels, on the upside resistances are seen at 0.9900, 0.9920 and 0.9935, while on the downside, supports could be found at 0.9860, 0.9830 and 0.9800.
Canadian CPI came in at -0.1% in July versus +0.2% expected, while YoY it printed a 1.3% rise against 1.5% expected. Core CPI figures were -0.1%, and +1.7% YoY, both missing expectations.
USD/CAD rose toward a daily high of 0.9897 as an immediate reaction but quickly returned to pre-data levels around 0.9885, where it is up 0.2% on the day, having hit a 3-month low of 0.9859 late NY session Thursday.
In terms of technical levels, on the upside resistances are seen at 0.9900, 0.9920 and 0.9935, while on the downside, supports could be found at 0.9860, 0.9830 and 0.9800.
Canadian CPI came in at -0.1% in July versus +0.2% expected, while YoY it printed a 1.3% rise against 1.5% expected. Core CPI figures were -0.1%, and +1.7% YoY, both missing expectations.
