Dukascopy Bank Team
Dukascopy Bank SA
USDCAD
The US Dollar weakened against the Canadian Dollar, following the Canadian Consumer Price Index release on . The USD/CAD currency pair lost 106 pips or 0.81%. The data release had a significant impact on the currency pair after which the candles continue decreasing to the 1.3010 area.
The Statistics Canada released Canadian Consumer Price Index data that came out better-than-expected at 0.5% to the forecast of 0.1%. The actual data gives a good sign for the Canadian currency. Consumer prices account for a majority of overall inflation which means that rising prices lead the central bank to raise interest rates.
By and large, is likely the pair makes a brief move towards the 61.80% Fibo today.
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
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