Canadian dollar rises on strong data

Canadian dollar rose today after the release of positive inflation data amid high hopes in the markets about the US-China trade talks.

Canadian economy released the CPI reading, which rose by 0.5% last month, while analysts expected 0.1%.

US President Donald Trump said trade negotiations with China are going well.

US President Trump said "he is doing great with China and other trade deals."

While he threatened the EU yesterday that his administration will impose tariffs on cars from the Union if the US didn't get what it wanted.

Meanwhile in the oil market, by 15:54 GMT, WTI stabilized at $56.1 a barrel, with a high of $57.1 and a low of $55.9.

Brent rose 1% to $60.6 a barrel, with a high of $61.4 and a low of $60.04.

By 16:07 GMT, CAD/USD rose by 0.3% to 0.7534, with a high of 0.7548 and a low of 0.7499.