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May 27, 2023
Yesterday at a glance: US Dollar-Canadian Dollar dipped as low as 1.3597 before recovering some lost ground. However, the rebound failed to push the stock to where it started the session (1.3639) with USD/CAD closing the day at 1.3613.
In contrast, positive data for US Dollar-Canadian Dollar reported earlier when data from United States concerning Core Durable Goods Orders was released yesterday at 12:30 UTC. Newly published figures emphasized continued decline from last month's figure of 0.3% to -0.2% this month.
Amid the market gloom, Canada Wholesale Sales (MoM) released yesterday at 12:30 UTC with a figure of 1.6, while the previous figure was -0.1. United States Core PCE Price Index (MoM) (Apr) came out at 0.4, while a consensus of analysts was expecting 0.3.
Though US Dollar-Canadian Dollar has been dropping, other pairs have been performing better: GBP/NZD surges 0.52% yesterday and closed at 2.0311. GBP/JPY soars 0.64% yesterday and closed at 172.53. EUR/JPY went up by 0.43% yesterday, and closed at 150.87.
Having set a significant low of 1.1321 6 months ago, US Dollar-Canadian Dollar is trading 20.46% higher.
