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May 12, 2023
Slightly weaker but mostly flat: USD/CAD is currently trading at 1.3487 as it maintains an active range between 1.3359 and 1.3506.
In contrast, positive data for US Dollar-Canadian Dollar reported earlier when highly important Producer Price Index data from United States beat analyst expectations of 0.3% with a reading of 0.2%. Initial Jobless Claims in United States fell short of market expectations (245,000) with a reading of 264,000, continuing the decline from the previous figure of 242,000.
Meanwhile, United States Import Price Index came out at 0.4%, while a consensus of analysts was expecting 0.3%.
In the meantime, negative performances are seen in other pairs, NZD/USD dips 1.07% to trade around 0.6234.
Positive performances can be seen by looking at other currencies as having closed the previous session at 1.9853, GBP/NZD is up 1.12% today to currently trade at around 2.0076. EUR/NZD rallies 0.82% to trade around 1.7464.
Having set a significant low of 1.1321 5 months ago, US Dollar-Canadian Dollar is trading 19.14% higher.
