Macro Trades: USD/CAD, GBP/USD
|USD/CAD: Canadian CPI
The US Dollar depreciated against the Canadian Dollar, following the Canadian CPI data release on Wednesday at 12:30 GMT. The USD/CAD exchange currency rate lost 33 pips or 0.25% right after the release. The Greenback continued trading at the 1.3345 level against the Greenback.
Statistics Canada released the Canadian CPI data, which came out better-than-expected of 0.4% compared with forecasted 0.1%.
According to the official release: "Prices increased year over year in all eight major components in May, with six components growing at faster rates and two components growing at the same pace compared with April. Higher prices for food (+3.5%) and transportation (+3.1%) contributed to the increased growth in the all-items index."
GBP/USD: UK CPI
The British Pound appreciated against the US Dollar, following the UK CPI data release on Wednesday at 08:30 GMT. The GBP/USD exchange currency rate gained 13 pips or 0.11% right after the release. The British Pound continued trading at the 1.2585 level against the Greenback.
Office for National Statistics released the UK CPI data, which came out in line with expectations of 2.0%.
According to the official release: "Falling fares for transport services, particularly air fares influenced by the timing of Easter in April, and falling car prices produced the largest downward contributions to the change in the rate between April and May 2019. Partially offsetting upward contributions came from rising prices for a range of games, toys and hobbies, furniture and furnishings, and accommodation services."
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