According to the recent stats released by Statistics Canada, the local consumer price index (CPI for short) slowed down in July 2016 to 1.3% from June’s 1.5%. The Core CPI (excluding gasoline) grew by 1.9% over the reporting period. It’s interesting to note that a month before, we could see the same 1.9% growth.
At the same time, it’s reported that the index measuring food prices accelerated its growth over the same reporting period. It should be noted that 6 out of 8 components of the mentioned index were positive in July 2016.
Meanwhile, Canada’s tourist industry also saw some price growth. In July, the index gained 1.9% year over year and 1.3% month over month.
Forex
Masterforex-V Academy reports that USDCAD has been trading within the scope of the 1,2460-1,3205 range for more than 12 months. For now, the currency pair is trading somewhere around 1,3002.
The closest major level of resistance is 1,3205, while the closest major levels of support are 1,2762, 1,2679, 1,2460.
