Australian economic data showed another monthly contraction in the Westpac Leading Index for October as September was revised lower. Skilled Vacancies also posted a contraction, following the disappointing labor report which showed disruptions across the economy. The PBOC cut interest rates by 5 basis points and the AUDCAD remained at support. How will price action react to Canadian inflation data and a sell-off in oil prices? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade.

Forex traders will get Canadian inflation data today, with the Bank of Canada leaning towards and interest rate cut, inflation data is becoming more critical. The Canadian Dollar has been under pressure against major currencies after being one of the best performers of 2019. How will today’s CPI data out of Canada influence price action in the AUDCAD? Today’s fundamental analysis will take a look at the upside potential as well as downside risk in this currency pair.