Canadian dollar falls after mixed data

Economies.com
2019-07-09 16:16PM UTC

Canadian dollar fell against the greenback during today's trading following the release of mixed data as well as markets focus shifting towards the testimony of Federal Reserve Chairman Jerome Powell before the US Congress.

 

Powell will give his semiannual testimony to the House Financial Services Committee tomorrow and to the Senate Banking Committee on Thursday.

 

In addition, the minutes of the last Federal Reserve meeting will be released tomorrow to determine the direction of monetary policy, which took place within the meeting.

 

On the other hand, the pace of construction of new homes in Canada rose by about 246 thousand homes last month, while the number of building permits fell by 13%, while analysts expected a decline of 10%.

 

Markets are still waiting for a new round of trade negotiations between the United States and China this week.

 

In terms of trade, As of 16:15 GMT, CAD/USD fell by 0.2% to 0.7621, with a high of 0.7644 and a low of 0.7608.

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