Canadian dollar rises on positive inflation data

Canadian dollar rose against its US counterpart in today's trading following positive inflation data, despite a drop in oil prices.

Consumer prices in Canada fell by 0.2% in June, while analysts expected a 0.3% drop, while the the core reading for the same index remained unchanged.

In the oild market, by 15:41 GMT, West Texas fell by 0.5% to $57.3 per barrel, with a high of $58.3 and a low of $56.9.

Brent fell 0.1% to $64.2 per barrel, with a high of $65.2 and a low of $64.

This comes after concerns dominated the markets on statements by US President Donald Trump, in which he threatened to impose more tariffs against China.

In terms of trade, by 15:56 GMT, CAD/USD rose by 0.3% to 0.7668, and recorded the highest price at 0.7672 and the lowest at 0.7633.