Forex Flash: USD/CAD waiting for tomorrow's US CPI for an upmove – TD Securities

Strong US retail sales report yesterday boosted the USD/CAD, but it failed to even approach the upper end of the March range. "The lack of follow through on a very solid US data release is another piece of evidence (on top of the less hawkish BoC) that the market is more geared toward a pullback now", wrote analysts Shaun Osborne and Greg Moore, expecting the US CPI to be USD/CAD-positive.

Second-tier data today in the US are not likely to knock USD/CAD out of its range. "The 1.0245/55 is still the nearest support to watch before 1.0215/20, while the topside is open to 1.0330/40", they added.