| 
June 27, 2023
USD/CAD is grinding lower from 1.3149 to 1.3128, shedding 21 pips (0.17%) today.
United States Building Permits is next today at 12:00 UTC.
While price action maintains a negative bias, Canada Manufacturing Sales (MoM) released yesterday at 12:30 UTC with a figure of 0.8, while the previous figure was 0.3. Canada Wholesale Sales (MoM) came out at 3.5. Fresh 2-Year Note Auction data from United States came out at 4.67.
In the meantime, negative performances are also seen in other pairs as USD/SGD is trading around 1.3494 (down 36 pips).
Though US Dollar-Canadian Dollar has been dropping, other pairs have been performing better: having closed the previous session at 156.44, EUR/JPY is up 0.3% today to currently trade at around 156.9. NZD/USD is up 0.4%.
Furthermore, Canada Consumer Price Index figure is projected at 0.5%. It previously stood at 0.7%; data will be released today at 12:30 UTC. Canada Core Consumer Prices figure is projected at 3.9%. It previously stood at 4.1%; data will be released today at 12:30 UTC. Canada Core Consumer Prices figure is projected at 0.5%. It previously stood at 0.5%; data will be released today at 12:30 UTC.
The currency pair has been trending lower for about a month. After setting a supportive marker at 1.1321 around 7 months ago, US Dollar-Canadian Dollar is now trading 16.15% above this level.
