| 
June 15, 2023USD/CAD dropped to 1.3267, hitting its lowest point in 4 months. It later recovered 58 pips and is now trading at 1.3325.
United States Initial Jobless Claims is next today at 12:30 UTC.
This move comes while some more positive signs for US Dollar-Canadian Dollar are out as United States Producer Price Index published yesterday at 12:30 UTC came out at -0.3%, falling short of the -0.1% projections and continuing its decline from the previous 0.2% figure.
On the flip side, United States Crude Oil Inventories came out at 7.92 million, better than analyst estimates of 1.48 million and improving upon the previous reading of -451,000.
At the same time, United States Interest Rate came out at 5.25, while a consensus of analysts was expecting 5.25.
Other currencies are also rising as USD/JPY gained 0.88% and is currently trading at 141.21. GBP/JPY is up 0.85%. EUR/JPY leaps up 0.78% to trade around 152.77.
Furthermore, the market is looking at Canada Wholesale Sales (MoM) (Apr) will be released tomorrow at 12:30 UTC. Canada Manufacturing Sales (MoM) (Apr) is expected today at 12:30 UTC. Canada Housing Starts (May) is scheduled for today at 12:15 UTC. Canada Foreign Securities Purchases (Apr) scheduled to come out tomorrow at 12:30 UTC.
US Dollar-Canadian Dollar is now trading 17.67% away from its significant low of 1.1321 first tested 7 months ago.
