Canada producer prices and raw material prices for the month of November.
- Industrial product price from November 0.1% versus 0.2% estimate. Ex energy/petroleum 0.0% versus -0.2% last month (revised from -0.1%)
- Prior month +0.1% revised to 0.0%
- Raw materials price index for November +1.5%. Ex crude energy 0.0% versus +0.6% last month (revised from +0.8% previously reported)
- Prior month -1.9% . The number remained on revised
There has been a little reaction to the data. The USDCAD is currently trading at 1.2971.
The USDCAD has continued to consolidate with a negative bias for the pair (stronger CAD) today. The pair remains above the Friday low of 1.29602 and the December 31 low at 1.29508. The falling 100 hour moving average currently comes in at 1.3002. That remains a target on the upside should the price rebound.
