Canada will release inflation-related data on Tuesday, October 17. Statistics Canada will publish the September Consumer Price Index (CPI), which is f
The Canadian Consumer Price Index is foreseen at 4% YoY in September. Bank of Canada Core CPI has been on the rise, although currently at 3.3% YoY. The BoC paused rate hikes after reaching 5%, the highest in 22 years. oreseen to increase 4% YoY, the same pace it rose in August. On a monthly basis, price pressures are seen up by 0.1%, declining from the previous 0.4% increase.
USD/CAD daily chart shows a bullish 20-day Simple Moving Average advancing well above directionless 100-day and 200-day SMAs. At the same time, technical indicators have lost their bullish momentum but hold above their midlines, limiting the scope for a bearish run. USD/CAD established a minimum of 1.3568 in the previous week, and sellers will likely become more courageous on a break below the level. The next relevant support area comes at around 1.
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