Throughout yesterday's trading session, the USD/CAD traded inside the extent of 1.0888 to 1.0926 and consolidated in 1.0906.
On May 14, at 11:54 GMT, the USD/CAD slipped by 0.04% for the day to trade at 1.0900. The pair hit a daily low at 1.0894 at 10:58 GMT.
Fundamental view
United States' annualized record of Poducer Price (PPI) most likely hopped by 1.7% in April, as indicated by the average gauge by experts, after including 1.4% in March.
Country's annualized core PPI, which bars costs of volatile categories, for example, food and energy, presumably stayed steady at 1.4% in April. This indicator is very sensitive to changes in demand. Therefore, it could be utilized as a heading marker for the economy. In any case, due to its controlled extension, it is not suitable for future inflation forecasts.
The US Bureau of Labor Statistics is projected to distribute the official PPI readings at 12:30 GMT. Higher-than-anticipated readings might help positive sentiment for greenback.
Technical view
On the off chance that USD/CAD figures out to break the first resistance level at 1.0925, it will presumably proceed up to test 1.0945. In the event that the second key resistance is broken, the pair will presumably endeavor to move up to 1.0963.
On the off chance that USD/CAD figures out to breach the first key support at 1.0887, it will presumably keep on sliding and test 1.0869. With this second key support broken, the development to the downside will presumably proceed to 1.0849.
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