USD/CAD: Canadian CPI

The US Dollar traded sideways against the Canadian Dollar, following the Canadian CPI data release on Wednesday at 12:30 GMT. The USD/CAD exchange currency rate lost 9 pips or 0.07% right after the release. The US Dollar continued trading at the 1.3480 level against the Canadian Dollar.

Statistics Canada released the Canadian CPI data, which came out in line with expectations of 0.4%. Note, that the US Retail Sales were released at the same time.

According the official release: "The Consumer Price Index (CPI) rose 2.0% on a year-over-year basis in April, following a 1.9% increase in March. The gasoline index decreased 1.6% year over year, following a 4.4% decline in March, while prices increased 10.0% month over month. Excluding gasoline, the CPI rose 2.3% year over year."