Hot US CPI Data Drives Loonie to Lowest Level in 18 Months
The Canadian dollar fell to its weakest level in 18 months against the US dollar after a hot CPI report strengthened the greenback.
The Canadian dollar fell to its weakest level in 18 months against the US dollar after a hot CPI report strengthened the greenback.
Canada lost 68,300 jobs in September, far worse than expected. USDCAD spiked but failed to hold above 1.42928, now trading near 1.4280.
Canada's merchandise trade surplus widened to C$4.2 billion in August, beating expectations of C$1.55 billion, as exports rose and imports fell.
Canada's GDP was unchanged in July, matching expectations. An August flash estimate points to a 0.2% gain.
Canadian retail sales fell 0.7% in July, slightly better than the expected 0.8% drop, but core sales and volume pointed to softer demand.
USDCAD retreats to 1.4000 after rally stalls; bulls must hold above 1.39893 to maintain bias.
Canadian building permits fell 17.3% in July, far exceeding the 6.4% decline expected, driven by broad weakness in non-residential and residential sectors.
Canada's July wholesale sales rose 0.3%, beating the -0.5% forecast, though volumes fell 0.6%.