Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Forex - USD/CAD rises after U.S., Canada data

Published 04/15/2014, 08:51 AM
Updated 04/15/2014, 08:51 AM

Investing.com - The U.S. dollar rose against its U.S. counterpart on Tuesday, as higher-than-expected U.S. inflation data lent support to the greenback, although an upbeat manufacturing sales report from Canada still supported demand for the loonie.

USD/CAD hit 1.1007 during European afternoon trade, the pair's highest April 7; the pair subsequently consolidated at 1.1002, gaining 0.37%.

The pair was likely to find support at 1.0919, the low of April 11 and resistance at 1.1070, the high of April 1.

Official data showed that U.S. consumer price inflation rose 0.2% in March, exceeding expectations for a 0.1% gain, after a 0.1% uptick the previous month.

Core consumer price inflation, which excludes food and energy, rose 0.2% last month, more than the expected 0.1% increase, after a 0.1% gain in February.

A separate report showed that the Empire State manufacturing index fell to 1.3 this month, from a reading of 5.6 in March, compared to expectations for a rise to 8.2.

In Canada, data showed that manufacturing sales increased by 1.4% in February, exceeding expectations for a 1% rise. Manufacturing sales in January were revised down to a 0.8% gain from a previously estimated 1.5% advance.

The loonie was lower against the euro, with EUR/CAD rising 0.29% to 1.5192.

Also Tuesday, data showed that the ZEW index for German economic sentiment fell to an eight-month low of 43.2 this month, from a reading of 46.6 in March. Analysts had expected the index to decline to 45.0 in April.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.