With US crude inventories remaining high and the price of west Texas oil dropping. USDCAD is testing the upper trendline of a triangle on the daily chart there may be a buying opportunity. There are a number of economic reports being released today that may support a long trade.
Retail sales m/m previous 0.9% expected 0.0%
Core Retail Sales m/m previous 1.3% expected 0.3%
CPI m/m previous 0.4% expected 0.2%
Core CPI m/m previous 0.3% expected 0.0%
Retail sales m/m previous 0.9% expected 0.0%
Core Retail Sales m/m previous 1.3% expected 0.3%
CPI m/m previous 0.4% expected 0.2%
Core CPI m/m previous 0.3% expected 0.0%