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USD/CAD a little softer after CPI data matches forecasts

The Canadian October CPI report has just been released and it matched exactly the earlier noted forecasts. That is probably the least exciting news of the day so far, but it still needs to be reported here. On the other side of the border some US data has just also released and that was not especially positive in terms of the latest Philadelphia Fed non-manufacturing index and the Chicago National activity index. Neither of those are going to set the world alight, but in terms of the USD/CAD, maybe just enough to draw attention away from what was a rather dull CPI report. Nonetheless, the USD/CAD is lower on this combined news. dropping to a new session low at 1.3696. However, it did not stay down there for very long so far. The immediate outlined range beyond the very next move remains pretty much as it was. The base is being covered by the 50 day moving average (now at 1.3667) and the topside by the 21 day moving average (now at 1.3769). The USD/CAD is just now trading at 1.3699

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