FXStreet (Edinburgh) - The US dollar is accelerating its daily downside vs. its Canadian neighbour on Friday, now sending USD/CAD to test the vicinity of 1.3000 the figure.
USD/CAD lower ahead of CAD CPI
The pair keeps extending its leg lower from overnight tops near 1.3180, with the selling interest around the greenback gathering further traction in response to yesterday’s decision by the Federal Reserve to refrain from hiking fed fund rates.
Next of relevance in the pair will be the Canadian inflation figures during August, with consensus expecting headline consumer prices to have advanced 2.1% on a yearly basis and BoC’s core prices to have gained 1.3% during the same period.
USD/CAD levels to consider
The pair is now losing 1.17% at 1.3027 and a breach of 1.3010 (low Sep.18) would open the door to 1.3000 (psychological level) and then 1.2952 (low Aug.12). On the other hand, the initial up barrier aligns at 1.3186 (high Sep.18) followed by 1.3261 (high Sep.16) and finally 1.3290 (high Sep.10).
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