The Canadian Dollar climbed on Tuesday after Canadian Consumer Price Index (CPI) inflation ticked higher in May.
Canadian Dollar whipsaws against Greenback on CPI Tuesday. Canada reported an upswing in CPI inflation in May. Additional focus to fall on July inflation print in the runup to BoC July rate call. The Canadian Dollar climbed on Tuesday after Canadian Consumer Price Index inflation ticked higher in May. Despite the upswing in CPI growth, the CAD whipsawed against the US Dollar during the American market session, setting a fresh 14-day high before settling back to flat on Tuesday.
3791, the CAD looks set to run out of gas against the US Dollar with USD/CAD finding a price floor near 1.3650. Daily candles continue to tread water in a consolidation pattern north of the 200-day Exponential Moving Average at 1.3582.
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