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Check out the USD/CAD after Canadian industrial and raw product prices jump in February

The latest data on industrial and raw materials prices out of Canada have just been released. Both of those have risen significantly above consensus last month. Industrial prices have risen by 0.7% where no increase was expected and raw materials prices have jumped by 2.1%, where a 0.6% increase was expected. This is quite important data, if it proves to be a barometer for prices elsewhere around the commodity sector. The USD/CAD was on the rebound from an earlier session low at 1.3521. This data seems to have stemmed the earlier rebound to 1.3551. Perhaps, more importantly, tomorrow we get the latest Canadian CPI data, which is expected to show quite a significant increase. This data released today will only serve to underpin that outlook. The high seen on the USD/CAD on Friday was set at 1.3552 and given the price action so far today, we can assume that is still providing resistance. Support is in place right now at 1.3513. The USD/CAD is currently trading at 1.3541

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