The USD\/CAD pair extended its losses for the second straight day as sellers eye a break of the 200-DMA. July\u2019s US inflation reports show signs of peaking, with CPI at 9% YoY and PPI at 10% YoY, below their previous month\u2019s readings.
The USD\/CAD is trading at 1.2738 under its opening price after hitting a daily high at 1.2792, but as North American traders got to their desks, tumbled the major to its daily low at 1.2727, 13 pips below the 200-day EMA.
Traders\u2019 focus shifts toward the University of Michigan Consumer Sentiment and Inflation Expectations. The USD\/CAD slides towards the 200-day EMA on Thursday due to a risk-on impulse propelled by additional US inflation data with the PPI increasing by 9.8% YoY, lower than foreseen. Moreover, the core PPI, which excluded volatile items, came aligned to estimations of 7.6% YoY, less than June\u2019s 7.9%.
On the labour market\u2019s front, US Initial Jobless Claims for the week ending on August 6 rose 262K, less than 263K expected but jumped for the second-consecutive week.<\/p>\n","protected":false},"excerpt":{"rendered":"
The USD\/CAD pair extended its losses for the second straight day as sellers eye a break of the 200-DMA. July\u2019s US inflation reports show signs of peaking, with CPI at 9% YoY and PPI at 10% YoY, below their previous month\u2019s readings.The USD\/CAD is trading at 1.2738 under its opening price after hitting a daily …<\/p>\n","protected":false},"author":13,"featured_media":61436,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[7070,7822,6957,7015],"class_list":["post-70011","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-jobless-claims","tag-labour-market","tag-ppi","tag-usd-cad"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/70011","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=70011"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/70011\/revisions"}],"predecessor-version":[{"id":70016,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/70011\/revisions\/70016"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/61436"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=70011"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=70011"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=70011"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}