The Canadian greenback is on the again foot following the latest inflation data release which showed a smaller than expected rise of 0.2% in the headline CPI. This in comparison with an anticipated rise of zero.four% and got here inline with the prior studying. 

The Median CPI Y/Y and Trimmed CPI Y/Y had been each decrease than anticipated in a knowledge batch that total is suggestive of a softer Canadian greenback. USDCAD has damaged to its highest stage of the day following the discharge and is now probing a falling trendline from the excessive seen on the finish of final 12 months.