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The Canadian dollar advanced Friday in the European market against a basket of world currencies, attempts to recover from a three-week low against the US dollar earlier in the Asian market in the face of inflationary data and retail sales in Canada. New data on Canadian interest rate outlooks for the third time this year.
The US dollar against the Canadian dollar trades around $ 1.3235 of the opening price of $ 1.3271 after peaking at $ 1.3290 since June 28 and a Hollow of $ 1.3233.
The Canadian dollar ended yesterday's session down 0.8% against the US dollar, as the US currency gained against a basket of major and minor currencies.
The dollar index fell 0.1% on Friday, helped by corrections and a profit of the highest level in 95.43 points, reversing the rise in the US currency against a basket of currencies, especially after the comments of US President Trump. Economy
The Central Bank of Canada raised interest rates for the second time this year, up 25 basis points to 1.50%, confirming its confidence in the country's economic growth, especially in the United States. second quarter of this year. The bank said that rising interest rates in the future is necessary to maintain high inflation.
In order to rebadess the possibility of raising Canadian interest rates for the third time this year, investors are turning to important data on inflation levels in Canada and on sales retail in Canada.
The consumer price index is expected to increase by 0.1% in June according to the same reading, and the expected annual reading is 2.4% higher than the 2.2% increase.
At the same time, monthly retail sales were expected to rise 1.0% in May after a 1.2% decline in April, with car sales up 0.6% against a drop of 0.1%. The apostles
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