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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

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Friday, July 18, 2014

Canada's Inflation Rate for June 2014 Increased to 2.4%...Trend or Anomaly?

Canada's inflation rate continued to rise from 2.3% in May to 2.4% in June, as reported today by Statistics Canada.

Is this the continuation of a longer-term trend, or simply temporary? Time will tell.

As I mentioned in my post of June 20th, a break and hold below 1.065 for the USD/CAD Forex pair may cause some concern for the Bank of Canada. That level was hit last week, as shown on the following 10-Year Weekly chart before it bounced and retested a 40% Fibonacci level at 1.08 and declined to its current level 1.0736 as I write this during Friday's trading session.

This is a chart worth watching, along with my chart posted overnight of GOLD, to watch for a break and hold of one of these resistance or support levels...higher GOLD prices may include a strengthening of the Canadian Dollar against the U.S. Dollar.