Inflation data in Canada
- Core consumer price index in Canada is m / m, fact 0.1%, forecast 0.3%.
- Retail sales in Canada m / m, fact 2.0%, forecast 0.0%.
- Core retail sales index in Canada m / m, fact 1.4%, forecast 0.0%.
Inflation data in Canada provided significant support to the national currency. Especially it is worth noting data on retail sales, which surpassed market expectations and showed significant growth.
Fig. 1. Graph of retail sales in Canada
Against the background of the general weakness of the US dollar, this allowed the pair USD / CAD to return to support levels 1.3160-50, which also correspond to the lower boundary of the rising channel in April this year. Strong support levels are located at the levels: 1.3130-20 and 1.3100.
Fig. 2. USD / CAD chart. Current price – 1.3150
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Hanzenko Anton
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