Swing Trades: GBP/USD, USD/CAD, EUR/USD
|GBP/USD: UK CPI
The British Pound weakened against the Greenback, following the UK CPI data release on Wednesday. The GBP/USD currency pair lost six pips, or 0.04%, to continue fluctuating in the 1.3319 area.
The Office for National Statistics released Consumer Price Index data that came out in line with a forecast of 2.4% in May, staying unchanged from the previous period.
"Partially offsetting downward effects came from price changes for games, domestic electricity, food and non-alcoholic beverages, and furniture and furnishings," said a representative from the Office for National Statistics.
USD/CAD: Canadian Employment Change
The Canadian Dollar weakened against the Greenback, following the Canadian Employment Change data release on Friday. The USD/CAD currency pair gained 28 pips, or 0.21%, to continue fluctuating in the 1.2985 area.
The Statistics Canada released Employment Change data that came out lower-than-expected of negative 7.5K, compared to the negative 1.1K in the previous period.
"It reinforces the idea that the labour market is really pushing full employment and tightening up enough to drive wage growth," said Bank of Montreal senior economist Robert Kavcic.
GBP/USD: UK Claimant Count Change
The British Pound strengthened against the Greenback, following the UK Jobless Claims data release on Tuesday. The GBP/USD currency pair gained five pips, or 0.03%, to continue fluctuating in the 1.3425 area.
The Office for National Statistics released Unemployment Change data that came out better-than-expected of negative 7.7K, compared to 11.3K, and better than previous period of 31.2K.
Together with a line of the unemployment rate, the pair was positively affected by an unexpected drop in UK Jobless Claims change, which helped to balance a marginally weakly earning data.
EUR/USD: US CPI
The Greenback weakened against the Eurozone's single currency, following the US CPI data release on Tuesday. The EUR/USD currency pair gained nine pips, or 0.08%, to continue fluctuating in the 1.1797 area.
The Bureau of Labor Statistics released Consumer Price Index data that came out in line with a forecast of 0.2%, staying unchanged from the previous period.
"The slow but steady upward pressure on inflation could tilt a majority of policymakers to lift their suggested interest rate forecast," said Sal Guatieri, a senior economist at BMO Capital Markets.
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