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USDCAD More Than Reverses PPI Dip

CANADA
  • USDCAD bounces from post 0830ET data lows of 1.3226 to clear overnight highs with 1.3336, as BBDXY moves to pre-PPI levels and with CAD increasingly sold despite slightly more resilience in mfg/wholesale sales and existing home sales than expected.
  • It has since pulled back to 1.332 but a continued push higher could see resistance at 1.3361 (Nov 11 high).
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  • USDCAD bounces from post 0830ET data lows of 1.3226 to clear overnight highs with 1.3336, as BBDXY moves to pre-PPI levels and with CAD increasingly sold despite slightly more resilience in mfg/wholesale sales and existing home sales than expected.
  • It has since pulled back to 1.332 but a continued push higher could see resistance at 1.3361 (Nov 11 high).