US U.S. dollar import price index is weak, and U.S. dollar/Canadian dollar continues to rise

On Wednesday (December 14th) in New York, the monthly rate of the November import price index and the export price index announced by the United States were all lower than expected. At the same time, Canada’s leading indicators in November showed strong performance, and the US$/CAD’s price rose slightly after sorting out.

Data show that the United States in November, the monthly price index of imports rose 0.7%, is expected to increase by 0.9%; the United States November export price index rose by 0.1% on the month, is expected to rise 0.3%. The U.S. import price index rose at an annual rate of 9.9% in November.

At the same time, data released by Canada shows that Canada’s leading indicator for November’s monthly rate rose by 0.8%, and is expected to increase by 0.3%. In October, manufacturing sales in Canada fell by 0.8% on a month-to-month basis. In October, the inventory ratio for manufacturing manufacturing stocks was 1.33. In October, the monthly rate of new manufacturing orders fell by 4.7%. In October, the manufacturing industry's uncompleted orders decreased by 0.3% on a monthly basis.

With the dollar rising across the board, USD/CAD stayed strong during European time and hit a fresh high of 1.0383 since December. After the release of the U.S. and Canada data, the U.S. dollar moved higher around 1.0365 and is now trading around 1.0380.

Technically, the short-term resistance of the USD/CAD concerns the 1.0400 Int. mark, with stronger resistance at 1.0523, the high of November 25. Looking down, short-term support is focused on the 5-day moving average, followed by the December 9 low of 1.0167.

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