Data for USA and Canada
USA:
- Core price index for personal consumption expenditures (m/m) (May), fact 0.2%, forecast 0.2%.
- Core price index for personal consumption expenditures (y/y) (May) is 1.6%, the forecast is 1.6%.
- Personal spending (m/m) (May), fact 0.4%, forecast 0.4%.
Canada:
- GDP (m/m) (Apr), fact 0.3%, forecast 0.1%.
- Commodity Price Index (RMPI) (m/m) (May), fact -2.3%, forecast 1.1%.
Data on expenditures in the United States fully coincided with forecasts and showed restrained dynamics, which coincided with the previous month.
But data on Canadian GDP showed growth, which was supported by the Canadian currency. Growth in GDP on a monthly basis for two months in a row indicates a significant strength of the Canadian economy.
Fig. 1. GDP (m/m) of Canada
The USD/CAD pair on the low data in the US and positive in Canada updated a low at the level of 1.3070, which confirmed keeping the downtrend. But the pair also remained limited oversold and upward divergence. Support levels: 1.3070 and 1.3050, resistances: 1.3100 and 1.3130.
Fig. 2. USD/CAD chart. Current price – 1.3080
Read also: “It’s easy to get rich, but try to stay rich”
Hanzenko Anton
Earn with the help of the trade service on the news Erste News!
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