Loonie fails to react on Canadian macro data

Source: WBP Online
© FP
The Canadian Dollar lacked anticipated volatility, as macro data sent mixed signals to investors. While retail sales missed analyst expectations, dropping by 1% instead of 0.6% as forecast, yearly inflation picked up to 1.7%, in comparison to 1.3% in March, offsetting the negative effects. The Loonie traded at roughly 1.31 versus the US Dollar, with an oil price of under $49 putting slight downward pressure on the currency.
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