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US Dollar Forecast: USD/CAD Post-CPI Drop Threatens Ascending Channel
USD/CAD fails to defend the opening range for May as the update to the US Consumer Price Index (CPI) reveals slowing inflation, but the exchange rate may track the ascending channel from earlier this year if it struggles to close below the 50-Day SMA (1.3627). US Dollar Forecast: USD/CAD Post-CPI Drop Threatens Ascending Channel USD/CAD registers a fresh monthly low (1.3591) as the US CPI narrows to 3.4% in April from 3.5% the month prior, while the Retail Sales report shows household spending holding flat during the same period amid forecasts for a 0.4% rise. Developments coming out of the US may continue to sway ... (full story)