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USDCAD : Trimmed Its Gains After Upbeat Canadian Data

USD trimmed its gains against Canadian dollar today after the strong CPI and Retail Sales data was reported by the Statistics Canada. 

According to the report the CPI rose 1.1% in 12 months to February. Out of 8 major components 6 posted gains. Higher shelter costs and Food prices led to the increase in CPI. However decline in the indexes of transportation and for clothing and footwear decelerated CPI.

Canadian Dollar strengthened against Us dollar after the release of the report and the pair fell down on the hourly chart finding support at 1.1171.