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Loonie declines after inflation data
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Loonie declines after inflation data
May 21, 2024 11:43 AM

The Canadian dollar fell against most major rivals on Tuesday after the release of inflation data, which matched expectations.

Earlier government data showed Canadas consumer prices rose 0.5% in April as expected.

Core prices, excluding food and energy, rose by 0.2% last month.

On trading, the CAD/USD pair lost 0.2% as of 18:34 GMT to 0.7325.

Aussie

The Australian dollar fell 0.1% against its US counterpart as of 18:34 GMT to 0.6664.

The Dollar

The dollar index rose 0.1% to 104.6 as of 18:26 GMT, with a session-high at 104.7, and a low at 104.4.

Now investors await important remarks by several Fed officials later this week, in addition to the Feds meeting minutes, which could provide clues on the future of US monetary policies.

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