The Canadian received support. Data on prices of raw materials and manufactured goods in Canada

The Canadian dollar retreated from the low of today’s trading against the US dollar against the backdrop of positive data on Canada.

• According to published data, the price index for raw materials increased in March by 2.1%, against the February decline of -0.4%. On an annualized basis, the growth rate was 10.0%, exceeding the previous value of 5.9%.
• The index of prices for manufactured goods increased by 0.8%, exceeding the previous one at the level of 0.3%. On an annualized basis, the growth rate remained at the level of 2.3%.

In turn, the negative dynamics of oil prices restrains the recovery of the Canadian currency.

Technical analysis: The pair USD/CAD maintains an uptrend in the short term. The main support levels are the marks 1,2800, 1,2740. In case of further growth of the pair and fixing it above the 1.2900 mark, a further increase in the price of the instrument to the level of 1.2980 is possible.

Fig. USD/CAD. The current price is $ 1,2861.

Alexander Sivtsov