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The Canadian Dollar weakened against the Greenback, following the Canadian Consumer Price Index data release on Friday. The USD/CAD currency pair gained 89 pips, or 0.67%, to continue fluctuating in the 1.3349 area.
The Statistics Canada released CPI data that came out lower-than-expected of 0.1% compared to a forecast of 0.4%, and lower from the previous period.
Pablo Piovano, the Economist and Lead European Editor, said: "In the meantime, the pair is navigating in fresh peaks in the 1.3380 region, levels last seen a year ago, despite the broad-based sentiment towards a weaker buck and a strong rebound in crude oil prices."
| Historical Data Table: Canadian CPI m/m | Economic Calendar for 22.06.2018 | ||||||||
| Date | 26.01.2018 | 23.02.2018 | 23.03.2018 | 20.04.2018 | 22.06.2018 | 12:43 PM | Canadian Core CPI m/m | ||
| Actual | -0.40% | 0.70% | 0.60% | 0.30% | 0.10% | 1:00 PM | Belgian NBB Business Climate | ||
| Forecast | -0.30% | 0.40% | 0.40% | 0.40% | 0.40% | 1:45 PM | US Flash Manufacturing PMI | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| AUD/CAD | 0.9871 | 0.99148 | 0.44% | AUD/CAD | 59.77% | 40.23% | |||
| CAD/CHF | 0.74566 | 0.74208 | -0.48% | CAD/CHF | 65.68% | 34.32% | |||
| EUR/CAD | 1.54712 | 1.55417 | 0.46% | EUR/CAD | 30.94% | 69.06% | |||
| USD/CAD | 1.32836 | 1.33397 | 0.42% | USD/CAD | 35.43% | 64.57% | |||