Loonie rises, shrugs off weak economic data

2019-05-15 17:59:56 GMT (Economies.com)
Loonie rises, shrugs off weak economic data

Canadian dollar rose against most of its major counterparts on Wednesday, buoyed by optimism about the trade dispute between Washington and Beijing, despite weak Canadian economic data.

 

Government data showed that Canada's consumer price index stabilized at 1.4% last month unchanged, and the common CPI stabilized at 1.8%.

 

Sources told CNBC today, that the White House plans to postpone the decision to impose tariffs on US imports of cars for six months.

 

This comes in fear of worsening problems and damage to the economy and consumers in the United States in conjunction with the escalation of the trade war with China.

 

US President Donald Trump said his administration did not care much about the trade dispute with China, adding that customs tariffs can be canceled once an agreement is reached with Beijing.

 

In terms of trading, by 15:59 GMT, CAD/USD rose by 0.2% to 0.7444, and hit a high of 0.7449 and the lowest at 0.7406.

 
 
 
  Symbol Last Change Chg.%
1.1231
-0.0042
0.3726%
1.2466
-0.0109
0.8668%
16.073
0.856
5.622%
56.837
-3.495
5.794%
63.90
0.24
0.38%
1421.255
5.760
0.407%
 
 
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