BREAKING: USDCAD moves higher on weak inflation data from Canada

Canada’s annual inflation rate decreased to 3.1% in June from 3.6 % in May and was below market expectations of a 3.2% rise.

Core measures (y/y):

Median 2.4% vs 2.3% exp (prior 2.4%)
Common 1.7% vs 1.9% exp (prior 1.8%)
Trim 2.6% vs 2.6% exp (prior 2.7%)

USDCAD bounced off the 50 SMA (green line) after today's inflation data releases and is heading towards resistance level at 1.2607. Source:xStation5

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