USD/CAD trades to a fresh weekly high (1.3703) as Canada’s Consumer Price Index (CPI) prints at 3.8% in September versus forecasts for a 4.0% reading, and the exchange rate may track the positive slope in the 50-Day SMA (1.3564) as it bounces back ahead of the moving average. USD/CAD seems to be confined within the monthly opening range following the failed attempt to test the yearly high (1.3862), but the Canadian Dollar may face headwinds ahead of the next Bank of Canada (BoC) meeting on October 25 as signs of slowing inflation encourages the central bank to retain the current policy. Until then, developments ... (full story)