USD/CAD: Canadian CPI

The US Dollar appreciated against the Canadian Dollar, following the Canadian CPI data release on Wednesday at 12:30 GMT. The USD/CAD exchange currency rate gained 2- pips or 0.15% right after the release. The Greenback continued trading at the 1.3074 level against the Canadian Dollar.

Statistics Canada released the Canadian CPI data, which came out better-than-expected of negative 0.2% compared with the forecast of negative 0.3%.

According to the official release: "The Consumer Price Index (CPI) rose 2.0% on a year-over-year basis in June, down from a 2.4% increase in May, largely due to lower month-over-month energy prices. Excluding energy, the CPI rose 2.6% year over year. Prices increased year over year in all eight major components. On a seasonally adjusted monthly basis, the CPI declined 0.1% in June, following a 0.3% gain in May."