CAD Canadian Dollar - Canadian dollar under pressure as inflation data increases rate cut expectations

The trend of the US dollar against the Canadian dollar is that the exchange rate has been encountering resistance at the 100-day moving average in recent months. It broke the level just last week, but failed to stabilize above this area, and then saw a significant decline on Thursday, that is, It means that the exchange rate's fourth upward test this year has still failed, and there is an opportunity to extend the adjustment. The support level is 1.3350 and 1.3280, and the next level is 1.3170 or even the 1.30 mark. The resistance level is seen at 1.3580, and the greater resistance is estimated to be 1.3750 and 1.39 levels. Pay attention to Canada's January inflation data during the day
Forecast range:
Resistance 1.3580 – 1.3750 – 1.3900 – 1.3900*
Supports 1.3350 – 1.3280 – 1.3170 – 1.3000
Highlights of the week:
Canada's industrial product price index in January was -0.1% monthly and -2.9% annual
Canada's raw material price index in January was +1.2% monthly and -6.40% annually.

Canada's CPI year-on-year growth in January slowed more than expected to 2.9%, falling below 3% for the first time since June last year.

Canadian retail sales increased 0.9% monthly in December
Canada's core retail sales in December +0.6%

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