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USD/CAD Rate Forecast: All Eyes on US CPI Report
USD/CAD cleared the July high (1.3387) as Canada’s Employment report showed an unexpected 6.4K contraction in July, and data prints coming out of the US may sway the exchange rate this week as the Consumer Price Index (CPI) is anticipated to show sticky inflation. USD/CAD Rate Forecast: All Eyes on US CPI Report USD/CAD extends the advance from last week to register a fresh monthly high (1.3400), and it seems as though the exchange rate will no longer respond to the negative slope in the 50-Day SMA (1.3274) as it trades above the moving average for the first time since June. Join David Song for the Weekly ... (full story)