CAD in rally on Canada's CPI grow

FX:USDCAD   U.S. Dollar / Canadian Dollar
By Andria Pichidi - August 21, 2019
USD-CAD fell to 1.3250 from near 1.3300, matching Monday's low, following the warmer Canada CPI figures. The pairing had been on the decline from the 1.3315 level seen in London morning trade, taking its cue from WTI crude, which rallied to seven-session highs of $56.94 from post-close lows of $55.91. Between firm oil and risk-on conditions, USD-CAD should remain under pressure for the time being. Support is at the 20-day moving average of 1.3236 now.

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