Today, the Canadian dollar fared better than yesterday, rising against the euro and paring initial losses versus the US dollar and the Japanese yen. Economic data released from Canada over Friday was mixed, giving the currency no particular edge.
On the positive side, Canada’s Consumer Price Index rose 0.1 percent in October from September (not seasonally adjusted). The core CPI inched up 0.3 percent, beating market expectations.
On the negative side, retail sales dropped 0.5 percent in September, frustrating forecasters who had promised a 0.1 percent increase. Core retail sales fell by the same amount, also missing analysts’ projections.
Despite the data being mixed, the Canadian dollar reacted favorably to it, rising after the releases. The currency’s performance was still relatively unimpressive, but it was at least better than yesterday.
USD/CAD advanced from 1.3284 to 1.3335 intraday but backed off to 1.3299 as of 14:17 GMT today. CAD/JPY traded at 92.30 after opening at 92.45 and falling to 92.06. Meanwhile, EUR/CAD slid from 1.4256 to 1.4227.
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