USDCAD Testing 12 year high of $1.40

So the disappointing Core Consumer Price Index (MoM) print earlier has sent the USDCAD hurtling towards the psychological price of $1.40 which hasn’t been broken since August 2003! In addition to this, it’s no secret that the tumbling oil price has been a contributory factor to CAD weakness. Due to the strength of the resistance, I would expect a pull back to $1.283 before any further gains.

The latest Canadian Consumer Price Index print print can be viewed her, if any of you are looking for something riveting to read...

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