Dukascopy Bank Team
Dukascopy Bank SA
USD/CAD: Canadian CPI
The US Dollar appreciated against the Canadian Dollar, following the Canadian CPI data release on Wednesday at 12:30 GMT. The USD/CAD exchange currency rate gained 2- pips or 0.15% right after the release. The Greenback continued trading at the 1.3074 level against the Canadian Dollar.
Statistics Canada released the Canadian CPI data, which came out better-than-expected of negative 0.2% compared with the forecast of negative 0.3%.
According to the official release: "The Consumer Price Index (CPI) rose 2.0% on a year-over-year basis in June, down from a 2.4% increase in May, largely due to lower month-over-month energy prices. Excluding energy, the CPI rose 2.6% year over year. Prices increased year over year in all eight major components. On a seasonally adjusted monthly basis, the CPI declined 0.1% in June, following a 0.3% gain in May."
GBP/USD: UK CPI
The British Pound traded depreciated against the US Dollar, following the UK CPI data release on Wednesday at 08:30 GMT. The GBP/USD exchange currency rate lost 11 pips or 0.09% right after the release. The British Pound continued trading at the 1.1240 level against the Greenback.
The Office for National Statistics released the UK CPI data, which came out in line with the expectations of 2.0%.
According to the official release: "The largest downward contributions to change in the 12-month rate between May and June 2019 came from motor fuels, accommodation services and electricity, gas and other fuels, with prices in each category falling between May and June 2019 compared with price rises between the same two months a year ago."
EUR/USD: US Retail Sales
The European Common Currency depreciated against the US Dollar, following the US Retail Sales data release on Tuesday at 12:30 GMT. The EUR/USD exchange currency rate lost 13 pips or 0.11% right after the release. The Euro continued trading at the 1.1215 level against the Greenback.
Census Bureau released the US Retail Sales data, which came out better-than-expected of 0.4% compared with the forecast of 0.1%.
According to the Commerce Department, last month households increased purchases of motor vechicles and a range of other goods. This advance indicates strong consumer spending, which could contibute to the US economy.
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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