USD/CAD around 1.3160 ahead of US CPI

USD/CAD is posting marginal gains at the end of the week, hovering over the mid-1.3100sahead of key US CPI results.

USD/CAD attention to oil, data

The pair is trading almost unchanged today, following the generalized consolidative pattern and looking to stabilize after reaching fresh 2-month high near 1.3240 on Thursday.

The demand for CAD remains subdued so far as crude oil prices remain on the defensive, relegating the barrel of West Texas Intermediate to sub-$44.00 levels.

Later in the NA session, US inflation figures tracked by the CPI are due followed by the advance gauge of the consumer sentiment measured by the Reuters/Michigan index. In Canada, July’s Manufacturing Shipments are due seconded by International Transactions figures.

USD/CAD significant levels

As of writing the pair is up 0.02% at 1.3159 facing the next resistance at 1.3236 (high Sep.15) followed by 1.3253 (high Jul.27) and finally 1.3262 (200-day sma). On the other hand, a breach of 1.3027 (base of the 4-month rising channel) would aim for 1.3019 (20-day sma) and then 1.2827 (low Sep.6).