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The Canadian dollar fell against its major counterparts in the European session on Friday

2018-05-18 03:35 pm | Resource: NEWS | No Views : 320



The Canadian dollar fell against its major counterparts in the European session on Friday, as the country's consumer inflation rate stabilized in April, while core retail sales fell unexpectedly in March.

The Canadian dollar traded mixed against its major counterparts in the European session. While steady against the yen and the dollar, it fell against the euro and the Australian dollar.

The Canadian dollar fell to 0.9665 against the Australian dollar, its weakest since May 8. On the downside, 0.98 is likely to be seen as the next support for the CAD.

The Canadian dollar fell from an intraday high of 1.5067 against the euro, sliding to a two-day low of 1.5166. If the CAD continues to fall, 1.53 is likely to be seen as the next support level.

After advancing to 1.2791 against the US Dollar at 8:15 AM Eastern Time, the Canadian Dollar reversed its trend and slid to a 3-day low of 1.2885. The next potential support for the CAD appears around the 1.30 level.

The Canadian dollar fell to a two-day low of 86.07 against the Japanese yen, from a high of 86.73 at 8:15 Eastern Time. The Canadian Dollar is likely to find support around 85.00.


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