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The Greenback rose slightly against the Canadian Dollar on the release showing higher-than-projected growth in the US producer prices. The USD/CAD exchange rate rose 10 base points to continue appreciation to touch daily high in the 1.2770 area.
The Labour Department revealed that the US Producer Price Index increased 0.4% over the month of October, surprising expectations for a weaker gain of 0.1%. The surge was driven by a rise in the cost of services. In addition, data showed steady acceleration in underlying produced prices, which encouraged projections for a gradual inflation growth and kept the Fed on track to make the interest rate hike in December.
| Historical Data Table: US PPI m/m | Economic Calendar for 15.11.2017 | ||||||||
| Date | 13.07.2017 | 10.08.2017 | 13.09.2017 | 12.10.2017 | 14.10.2017 | 9:30 AM | UK Average Earning Index | ||
| Actual | 0.10% | -0.10% | 0.20% | 0.40% | 0.40% | 1:30 PM | US CPI m/m | ||
| Forecast | 0.00% | 0.10% | 0.30% | 0.40% | 0.10% | 1:30 PM | US Retail Sales m/m | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| AUD/USD | 0.76451 | 0.76369 | -0.11% | AUD/USD | 63.22% | 36.78% | |||
| EUR/USD | 1.17474 | 1.17515 | 0.03% | EUR/USD | 43.79% | 56.21% | |||
| USD/JPY | 113.502 | 113.6 | 0.09% | USD/JPY | 32.39% | 67.61% | |||
| USD/CAD | 1.27053 | 1.2716 | 0.08% | USD/CAD | 47.38% | 52.62% | |||