-
USD/CAD Rate Rebound Vulnerable to Another Rise in Canada CPI
USD/CAD appears to have reversed ahead of the July low (1.2303) as it snaps the series of lower highs and lows from the previous week, but fresh data prints coming out of Canada may curb the recent rebound in the exchange rate as the headline reading for inflation is expected to pick up for the third consecutive month. USD/CAD halts a five day decline as it extends the rebound from the monthly low (1.2337), and recent developments in the Relative Strength Index (RSI) raises the scope for a larger recovery in the exchange rate as the oscillator bounces back from 30. Failure to push into oversold territory indicates ... (full story)