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USD/CAD sees little action, US CPI up next

FXStreet (Bali) - USD/CAD is trading just below the 1.09 whole number, with trading developing in a very slow fashion on Monday, with the pair kept in a tight 1.0875-97 range.

Peter Fell, Analyst at FXBeat, notes: "The next risk event comes from the US, CPI is expected to ease to 0.1% from 0.3% m/m, Housing starts 965 K from 839 K."

In terms of order flows, Peter adds: "Demand layered from 1.0875 to 1.0850, supply clustered 1.0910/25 and stops above 10925. Support is seen at 1.0870 (200 DMA), below there, 1.0847 is the 38.2% fibo on the 1.0621 / 1.0988 rise."

New Zealand Producer Price Index - Output (QoQ) below forecasts (0.8%) in 2Q: Actual (-0.5%)

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NZD/USD challenging the channel support line

NZD/USD is trading at 0.8468, down -0.12% on the day, having posted a daily high at 0.8487 and low at 0.8467.
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