The Canadian dollar fell a bit against the US dollar and the Japanese yen but rallied versus the euro during the Friday’s trading session. Macroeconomic data released from Canada today was largely positive for the currency.
Canada’s Consumer Price Index rose 0.2 percent in June (not seasonally adjusted), matching forecasts exactly. What was even better, the core component of the index was unchanged versus the small drop by 0.1 percent predicted by experts.
The economic data from the United States had a mixed impact on the Canadian dollar. On one hand, it weakened the loonie against the greenback. On the other, it was somewhat supportive for the Canadian currency as the USA is the biggest trading partner of Canada.
USD/CAD ticked up from 1.2956 to settle at 1.2972, and its daily high of 1.3007 was the strongest level since March 2009. CAD/JPY went down from 95.77 to close at 95.61. At the same time, EUR/CAD declined from 1.4088 to 1.4047 following the earlier gain to the session high of 1.4144.
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