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Jan 11 - 01:55 PM

USD/CAD - Rises To New 2024 High At 1.3443 After CPI Surprise Higher

By Paul Spirgel  —  Jan 11 - 11:40 AM
  • $CAD firm in early NorAm, +0.45% at 1.3439; Thursday range 1.3443-1.3352

  • Pair rising w/UST yields after U.S. inflation data surprises higher

  • IRPR on Eikon shows little change in Mar cut odds, Fed seen -144 by Dec 2024

  • Supt at Thurs low 1.3352, rising 10-DMA 1.3344, 21-DMA 1.3322

  • Res 1.3442 Thursday high, 1.3480 200-DMA, 1.3538 50% Fib of 1.3899-1.3177

  • Rise above 1.3538 shifts momentum to USD bulls for run higher to daily cloud (1.3610-58)

Source:
Refinitiv IFR Research/Market Commentary

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