The Canadian has strengthened its position. Inflation and retail sales data on Canada

The Canadian dollar rose significantly against the US dollar due to the data on inflation and retail sales in Canada.

• Retail sales rose by 1.5% in October, exceeding the previous value of 0.2%.
• The base retail sales index increased by 0.8%, which is higher than the previous value at the level of 0.4%.
• The consumer price index in October showed an increase of 0.3%, exceeding the September value of 0.1%, on an annualized basis, the growth rate was 2.1%, which exceeds the previous value of 1.4%.
• The base consumer price index in October fell by -0.1, against the growth of the previous period at 0.3%. On an annualized basis, the growth rate was 1.3%, exceeding the previous value of 0.9%.

Technical analysis: Based on this statistics, pair USD/CAD fell sharply, losing almost 100 points of positions. The closest support levels are 1.2690; 1.2655; resistance levels are 1,2770; 1,2800.00.

Fig. USD/CAD. The current price is $ 1.2731.

Alexander Sivtsov