Forex: USD/CAD- loonie descends on Canadian June CPI

on Jul 19, 2013
Listen Friday July 19th:_ The loonie has given ground against the greenback following the latest consumer price inflation update from Canada, released a short time ago, with the pair rising to an intraday high to this point at 1.0390.

As reported by Statistics Canada, the CPI increased 1.2 percent in the 12 months to June, following a 0.7 percent rise in May and in line with analysts’ expectations. The rise in consumer prices was led by transportation costs, which increased two percent on annual basis last month, after May’s 0.5 percent fall.
On a seasonally adjusted basis, the CPI increased 0.3 percent in June month-on-month, after rising 0.2 percent in May.
Also released, by the Bank of Canada, was Core CPI for the June year, showing a 1.3 percent rise, as against the 1.1 percent increase in May. The seasonally adjusted reading month-on-month was up 0.2 percent, following the zero percent change in May.

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