Lethargic US Dollar-Canadian Dollar fails to breach tight 1.324 – 1.324 range

Yesterday at a glance: Lightly positive USD/CAD closed at 1.3249 after ranging between 1.324 and 1.324.

Meanwhile, GDP in Canada fell short of market expectations (0.2%) with a reading of 0%, continuing the decline from the previous figure of 0.1%. United States Core PCE Price Index (YoY) (May) released yesterday at 12:30 UTC with a figure of 4.6, while the previous figure was 4.7. United States Core PCE Price Index (MoM) (May) came out at 0.3, while a consensus of analysts was expecting 0.3.

Other currencies are also rising as NZD/USD added 1.14% and closed around 0.6069 yesterday. Notably, GBP/USD rose 0.69% yesterday and closed at 1.261.

At the same time, EUR/NZD is down to 1.7776, losing 123 pips, after ending the previous session around 1.79.

The currency pair has been trending lower for about a month. After setting a supportive marker at 1.1321 around 7 months ago, US Dollar-Canadian Dollar is now trading 17.03% higher.