Canadian Inflation Data for August

On Friday we will get consumer inflation data out of Canada for the month of August. The Canadian Dollar has been on the downtrend after the terrible employment report two Friday’s ago. I think we will see the Canadian Dollar struggle a bit longer long-term, but would not be surprised to see a small reversal based on profit taking. I will use any correction in the AUDCAD and GBPCAD as a good entry opportunity for a long position.

The USDCAD drops on the back of Canadian fundamentals and weakness in the Dollar.

Interesting. GBPCAD might be a bit more risky though, especially with the Scottish referendum and BOE minutes coming up. Then again, positive data could lead to huge gains for this pair. Good luck!