USDCAD Rocketing to the Moon, Canadian Core CPI Worst Report Since 2011

The United States Dollar has seen great strength in the past week.

Thursday’s U.S. unemployment claims hit a new 2008 low, boosted job market sentiment for the United States.

The USD/JPY has rocketed into new highs, breaking through the 91.00 level. Yen weakness could be far from over.

USDCAD
Friday morning the Canadian Core CPI was released at -.06, the lowest since July 2011 according to Forex Factory.

The USD/CAD long is appealing to many because of positive U.S. employment data along with Canadian Prime Minister Stephen Harper’s lowered expectations for Canada’s economy.

Take a look at this weekly USDCAD chart. Click to enlarge.

 

usdcad

 

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