EUR/USD: US Retail Sales

The European Common currency traded sideways against the US Dollar, following the US Retail Sales data release on Wednesday at 12:30 GMT. The EUR/USD exchange currency rate lost 6 pips or 0.06% right after the release. The Euro continued trading at the 1.1185 level against the Greenback.

Census Bureau released the US Core Retail Sales data, which came out worse-than-expected of 0.1% compared with forecast 0.7%.

According to analysts, the US Retail Sales dropped unexpectedly due to the decreased demand for automobiles and building materials.

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USD/CAD: Canadian CPI

The US Dollar traded sideways against the Canadian Dollar, following the Canadian CPI data release on Wednesday at 12:30 GMT. The USD/CAD exchange currency rate lost 9 pips or 0.07% right after the release. The US Dollar continued trading at the 1.3480 level against the Canadian Dollar.

Statistics Canada released the Canadian CPI data, which came out in line with expectations of 0.4%. Note, that the US Retail Sales were released at the same time.

According the official release: "The Consumer Price Index (CPI) rose 2.0% on a year-over-year basis in April, following a 1.9% increase in March. The gasoline index decreased 1.6% year over year, following a 4.4% decline in March, while prices increased 10.0% month over month. Excluding gasoline, the CPI rose 2.3% year over year."

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AUD/USD: Australian Wage Price Index

The Australian Dollar traded sideways against the US Dollar, following the Australian Wage Price Index data release on Wednesday at 01:30 GMT. The AUD/USD exchange currency rate lost 8 pips or 0.12% right after the release. The Aussie continued trading at the 0.6930 level against the Greenback.

Australian Bureau of Statistics released the the Australian Wage Price Index data, which came out worse-than-expected of 0.5% compared with forecast 0.6%.

The Reserve Bank of Australia has emphasized that it would focus on developments in the labour market at its upcoming meeting. Despite weak data release, the Australian policymakers remain to stay optimistic about the current situation on the labour market.

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This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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