Dukascopy Bank Team
Dukascopy Bank SA
USD/CAD: Canadian CPI
The Canadian Dollar weakened against the Greenback, following the Canadian Consumer Price Index data release on Friday. The USD/CAD currency pair gained 89 pips, or 0.67%, to continue fluctuating in the 1.3349 area.
The Statistics Canada released CPI data that came out lower-than-expected of 0.1% compared to a forecast of 0.4%, and lower from the previous period.
Pablo Piovano, the Economist and Lead European Editor, said: "In the meantime, the pair is navigating in fresh peaks in the 1.3380 region, levels last seen a year ago, despite the broad-based sentiment towards a weaker buck and a strong rebound in crude oil prices."
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