USD/CAD on the downside amid Canadian IPP

FXStreet (San Francisco) - After bouncing from multi-month lows at 1.0675, the USD/CAD attempted to recover until 1.0700; however the pair found selling interest following weaker-than-expected Industrial Product and raw material prices in Canada.

Industrial product prices declined 0.5% in May in Canada; raw material prices dropped 0.4%, both worst than expected.

USD/CAD sentiment

Currently, USD/CAD is trading at 1.0689, flat on the day, having posted a daily high at 1.0698 and low at 1.0674. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish.