USD/CAD leaps top fresh tops on Canadian inflation

The Canadian Dollar is trading in session lows vs. its American neighbour on Friday, lifting USD/CAD to fresh tops in the 1.2560 region.

USD/CAD bid on data

The pair met extra upside pressure after Canadian inflation figures showed headline consumer process rising at an annualized 1.6% and 0.2% on a monthly basis, missing estimates.

Further data saw core prices gauged by the BoC rising 0.8% over the last twelve months and 0.2% inter-month.

Still in Canada, headline retail sales missed forecasts today, contracting at a monthly 0.3% during August, while sales excluding the Autos sector dropped 0.7% MoM, both prints coming in below expectations.

In the meantime, the pair rose to fresh 3-day tops in the wake of the data, also bolstered by the generalized bid tone surrounding the buck.

USD/CAD significant levels

As of writing the pair is up 0.59% at 1.2559 facing the next up barrier at 1.2592 (high Oct.17) followed by 1.2599 (high Oct.6) and finally 1.2664 (high Aug.31). On the other hand, a breach of 1.2460 (55-day sma) would aim for 1.2431 (low Oct.12) and then 1.2253 (low Sep.22).