USD/CAD stays near 1.3500 post-CPI

USD/CAD kept the composure following inflation figures in Canada today, trading in the red territory around the 1.3500 handle.

USD/CAD muted on data

The pair has barely reacted after consumer prices in Canada showed the CPI rose 1.5% on a year to October, while BoC’s Core prices rose a tad below consensus 1.7% on a yearly basis (vs. 1.8% forecasted).

Spot keeps the red around the 1.3500 handle, backed by a renewed offered bias surrounding the buck after the US Dollar Index clinched fresh 13-year tops near 101.50 in early trade.

Adding to CAD strength, crude oil prices have reverted the initial negative fashion, now lifting the West Texas Intermediate to the mid-$45.00s, just below daily highs.

In the US, speeches by New York Fed W. Dudley (permanent voter, neutral) and Kansas City Fed E.George (voter, hawkish) are next on tap.

USD/CAD significant levels

As of writing the pair is losing 0.16% at 1.3500 facing the next support at 1.3401 (low Nov.15) followed by 1.3311 (38.2% Fibo of the 2016 drop) and then 1.3260 (low Nov.9). On the flip side, a break above 1.3575 (50% Fibo of the 2016 drop) wold open the door to 1.3590 (high Nov.14) and finally 1.3839 (61.8% Fibo of the 2016 drop).

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