financetom
News
financetom
/
News
/
Loonie declines after inflation data
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
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.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
US dollar tries to recover from five-week trough
US dollar tries to recover from five-week trough
May 27, 2025
The US dollar rose in European trade on Tuesday for the first time in three sessions against a basket of major rivals, as it tries to recover from five-week lows on short-covering. Now traders await important US data later today to assess the odds of future Fed rate cuts. The Index The dollar index rose 0.5% to 99.44, with a...
US dollar extends losses to five-week trough on US debt concerns
US dollar extends losses to five-week trough on US debt concerns
May 26, 2025
The US dollar fell in European trade on Monday against a basket of major rivals, hitting a five-week trough amid concerns about the US debt levels. Now investors await important remarks by several Fed officials as they look for more clues on the odds of multiple Fed rate cuts this year. The Index The dollar index fell 0.4% to 98.69,...
Yen rushes to four-week high on strong demand
Yen rushes to four-week high on strong demand
May 27, 2025
The Japanese yen rose in Asian trade on Tuesday against a basket of major rivals, resuming gains against the dollar after a short hiatus and hitting a four-week high on strong haven demand amid concerns about US debt levels. Gains are also bolstered by the increasing odds of a Japanese interest rate hike in June in response to mounting inflationary...
Euro hovers near four-week high after Lagarde's remarks
Euro hovers near four-week high after Lagarde's remarks
May 27, 2025
The euro rose in European trade on Tuesday on track for the third straight session against the US dollar, and about to hit a four-week high amid concerns about US financial stability. Recent bullish remarks by European Central Bank President Christine Lagarde provided more positive momentum for the euro, and underscored investor confidence in the EU. The Price The EUR/USD...
Copyright 2023-2025 - www.financetom.com All Rights Reserved