USDCAD on Wednesday rose 0.03% to 1.37130. What we know.

USDCAD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.03%	4.5 Pips
Week to-date	-0.17%	-22.9 Pips
August	-0.69%	-95.3 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD Monthly Retail Trade (1-mth)

What happened lately

🇺🇸 U.S. CPI Inflation Rate (1-mth) increased to 0.2% in July from -0.1% in June. Source: Bureau of Labor Statistics
The U.S. CPI Inflation Rate excluding Food and Energy sectors increased to 0.2% in July from 0.1% in June. Source: Bureau of Labor Statistics
🇺🇸 U.S. CPI Inflation Rate excluding Food and Energy sectors (12-mth) in July dropped to 3.2%, down from 3.3% in June. Source: Bureau of Labor Statistics
🇺🇸 The U.S. CPI inflation rate for July dropped to 2.9% from the previous figure of 3% in June. Source: Bureau of Labor Statistics
🇺🇸 In July, the U.S. Producer Price Index excluding Food & Energy dropped to 0% compared to the revised June figure of 0.3%, previously reported as 0.4%. Source: Bureau of Labor Statistics
🇺🇸 The U.S. Producer Price Index (12-month) for July dropped to 2.2%, down from the revised June figure of 2.7%, which was initially reported as 2.6%. Source: Bureau of Labor Statistics
The U.S. PPI excluding Food and Energy sectors (12-month) in July dropped to 2.4% compared to the previous figure of 3% in June.
🇺🇸 In July, the U.S. Producer Price Index (1-mth) dropped to 0.1% from 0.2% in June. Source: Bureau of Labor Statistics

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What can we expect from USDCAD today?

USDCAD on Wednesday rose 0.03% to 1.37130. Price is below 9-Day EMA while Stochastic is rising.

Updated daily direction for USDCAD looks bullish as the pair ended higher after Wednesday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 1.37303 with break above could target R2 at 1.37477 or figure level area. While towards the downside, we are looking at daily low of 1.36840 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.37245 may suggest continuation after recent positive movement.

For the week to-date, take note that USDCAD is bearish as the pair posted lower by -0.17%.

Key levels to watch out:

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