USD/CAD leaps to 1.3300 post-CPI, daily highs

The Canadian Dollar is depreciating further vs. its American neighbour today, now lifting USD/CAD to fresh session highs in the 1.3300 neighbourhood.

USD/CAD bid after data

CAD stays under pressure after Canadian inflation figures rose less than expected in May, showing consumer prices tracked by the CPI increased at a monthly 0.1% and 1.3% over the last twelve months.

Further results saw inflation figures striping energy and food costs rising 0.1% inter-month and 0.9% on an annualized basis.

The pair extended the daily correction higher in the wake of the CPI results, offsetting the better tone in crude oil prices, which is usually CAD-supportive.

USD/CAD significant levels

As of writing the pair is gaining 0.40% at 1.3287 facing the next up barrier at 1.3341 (200-day sma) followed by 1.3349 (high Jun.21) and then 1.3373 (20-day sma). On the other hand, a break below 1.3189 (low Jun.19) would aim for 1.3163 (low Jun.14) and finally 1.3007 (low Feb.16).