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USD/CAD falls back to test 1.3350 as Canadian CPI unchanged in November
The Canadian November CPI report has just been released and it has. Just ahead of the release the USD/CAD had fallen to fresh session lows at 1.3372 and was clearly anticipating a stronger than forecast set of inflation data. Well, that is pretty much what it got because the November CPI did not fall at all and remained at 3.1% on an annualised basis. The core rate was higher than forecast in all medians too. So, the USD/CAD has now fallen very close to that double bottom at 1.3350.In fact it has just tested the level right now. It is currently trading at 1.3354
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