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22 May 2015
USD/CAD soars to 1-month highs after US and Canadian data
FXStreet (Córdoba) - USD/CAD jumped from 1.2200 to 1.2270, hitting the strongest level since April 22 after the release of economic data from the US and Canada. The pair remains near the highs, held in a bullish tone and eyeing 1.2300.
Mixed data
In Canada, the Consumer Price Index fell in April 0.1%, analysts were expecting a 0.1% increase; the annual rate fell from 1.2% to 0.8%, the lowest level in three years. On the positive side, retail sales rose 0.7% in March, above the 0.3% expected.
The loonie rose in the market after the report, except versus the US dollar. Greenback rose sharply after the core CPI for April showed an increase of 0.3% (the highest rate in two years) above expectations of an increase of 0.2%.
Mixed data
In Canada, the Consumer Price Index fell in April 0.1%, analysts were expecting a 0.1% increase; the annual rate fell from 1.2% to 0.8%, the lowest level in three years. On the positive side, retail sales rose 0.7% in March, above the 0.3% expected.
The loonie rose in the market after the report, except versus the US dollar. Greenback rose sharply after the core CPI for April showed an increase of 0.3% (the highest rate in two years) above expectations of an increase of 0.2%.