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Canadian Inflation Rises | US Retail Sales Slips

Published May 15, 2019

• Canada’s annual inflation rate edged up to 2.0 % in April from 1.9% in March, driven in part by a carbon levy that pushed up gasoline prices in six provinces, Statistics Canada data showed on Wednesday. The Canadian dollar was trading sideways at 1.3474, up 0.10% on the day against greenback following the announcement.
• US retail sales unexpectedly dropped in April as households cut back their spending on clothes, appliances, and building materials. The value of overall sales declined 0.2% after a 1.7% increase the prior month that was the strongest gain since 2017, according to Commerce Department.
• The German economy expanded by 0.4% in the first quarter of 2019, largely driven by higher household spending and booming construction, preliminary data showed on Wednesday. Meanwhile, the yearly growth rate slowed more than expected to 0.6 percent as compared to the previous reading of 0.9 %.
• The US Secretary of State Mike Pompeo that the United States does not seek a war with Iran, amid rapidly growing tensions between the two countries. However, there would be no leniency for Iran if US interests are attacked, he added.