Dukascopy Bank Team
Dukascopy Bank SA
USD/CAD: Canadian CPI
The US Dollar depreciated against the Canadian Dollar, following the Canadian CPI data release on Friday at 12:30 GMT. The USD/CAD exchange currency rate lost 32 pips or 0.25% during a minute, right after the release. In the next couple of hours, the rate returned to trade at the 1.2920 mark.
The Statistics Canada released Canadian CPI data that came out in line with expectations of 0.1%. The released data represents the change in the price of goods and services purchased by consumers.
Foreign Affairs Minister Chrystia Freeland is refusing to be bound by the Sept. 30 deadline for the final text of a trade deal with the U.S. and Mexico. "Canada has from the very beginning been guided by a single metric…and that metric is getting a deal that is good for Canada and good for Canadians. That is our target," she commented after another meeting with U.S. Trade Representative Robert Lighthizer.
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