USD/CAD gained ground as Canada’s Inflation Rate missed analyst estimates.
USD/CAD tests new highs as traders react to inflation data from Canada. Inflation Rate declined from 1.9% in June to 1.7% in July, compared to analyst forecast of 1.8%. Core Inflation Rate decreased from 2.7% to 2.6%.
Currently, USD/CAD is trying to settle above the resistance at 1.3845 – 1.3860. In case this attempt is successful, USD/CAD will move towards the next resistance at 1.3925 – 1.3940.
