The Canadian dollar was mixed after inflation report on Friday. The currency rose against the US dollar, fell against the euro and closed flat versus the Japanese yen.
As was expected, annual inflation accelerated to 1.2 percent in June from the May’s reading of 0.7 percent. Consumer prices were unchanged on a monthly basis, while an increase by 0.2 percent was expected by analysts. Core inflation fell 0.2 percent after rising at the same rate in the prior month.
The Canadian currency suffered from the central bank’s stance that was much less hawkish than it had been previously. At the same time, the loonie profits from the strong performance of crude oil.
USD/CAD fell from 1.0376 to close at 1.0365. EUR/CAD advanced from 1.3602 to 1.3623. CAD/JPY closed at 96.77, not far from the opening rate of 96.70.
If you have any questions, comments or opinions regarding the Canadian Dollar,
feel free to post them using the commentary form below.