USD/CAD has slide to fresh session lows below 1.0620/25 support in the wake of a mixed bag of US data. Core inflation was better than expected while the current account gap widened less than expected. Canadian new car sales rose more than expected, up 6.9%, helping fuel fresh Loonie appreciation. Cross buying remains a prime factor this morning with CAD/JPY up to 116.35. 1.0590 and 1.0560/65 are solid support ahead of range lows at 1.0550.
USD/CAD had a head start on the EUR, falling to 1.0605, after the first round of US data and is now consolidating losses. Some profit-taking has been seen in CAD/JPY, helping slow the Loonie's advance. 1.0650 expiries are noted this morning with more at 1.0660.
In the interim 1.0645 now becomes the next hurdle needed to overcome to accelerate gains to the upside exposing 1.0695.