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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
The USDCAD pair faced significant selling pressure following weaker-than-expected US inflation data, breaking key technical support levels and stabilizing near resistance zones at 1.4068 and 1.4077. Markets are currently awaiting the Bank of Canada's rate decision and US retail sales data to determine the next fundamental direction, amid mixed US Dollar performance and rising Treasury yields. Meanwhile, US equity futures pointed to a weak opening led by a sell-off in tech stocks, and the USDJPY pair fluctuated following Japanese comments on domestic investment.