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USD/CAD nearer to technical support as data suggests higher Canadian inflation

Earlier this afternoon economic data released from Canada suggested prices there are on the rise again. That was the latest industrial product price and raw materials price. Both increased by considerably more than forecast. Raw materials rose by 3% in August against an expected increase of 1%. Industrial prices rose by 1.3% against an expected 0.2% increase. This news pushed the USD/CAD lower again and it came close to testing the noted 200 day moving average. That remains in place at 1.3464. The low seen so far has been set at 1.3472. The US dollar is just lifting from that earlier now, as the US equity markets prepare to reopen. The USD/CAD is currently trading at 1.3480 

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