Open Demo Account
Home / Market Update / Forex Market / CAD Gains After Inflation Data

CAD Gains After Inflation Data

M. Ali 22 July, 2020 11:56 pm Forex Market, Market Update

The Canadian Dollar (CAD) showed a strong performance on Wednesday, making the best use of its US rival weakness.

Earlier today, data by Statistics Canada showed that the Canadian annual consumer price index (CPI) rose more than expected in June.

The CPI rose by 0.7% year-on-year in June, compared with market expectations of a 0.2% increase.

CAD recently received support from relatively strong retail sales data, even if it was below expectations.

The USD/CAD is trading at ‪1.34148, down by 0.31% for the day.

Support Levels: 1.3412 – 1.3362 – 1.3300

Resistance Levels: 1.3524 – 1.3586 – 1.3636

Tags

Check Also

Bitcoin

Bitcoin Faces Pressure as Dollar Strengthens Ahead of U.S. Inflation Data

Bitcoin’s price dipped on Monday, once again testing crucial support levels as sentiment towards cryptocurrencies …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends