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USD/CAD Moves lower on Lackluster US Inflation Data; Oil Prices Fall on Oversupply Worries
Published August 11, 2017
The US dollar is under sharp pressure this morning after data on US inflation came in under expectations; both Consumer Price Index and Core Consumer Price Index levels showed a reading of 0.1% versus expectations of 0.2%
USD/CAD has settled in the high 1.2600s this morning as the market continues to react to today’s data; investors will look to see what the Fed’s take on the data when FOMC members Robert Kaplan and Neel Kashkari speak later this morning
US – North Korea tensions remain high as US President Donald Trump reiterated aggressive comments towards Kim Jong-un’s regime; US stocks endured their largest drop since May 2017 as global markets maintain a risk off sentiment
Oil prices are set to drop nearly 3% this week as global supply glut worries continue to plague the market; prices are set to change again when US data on active rigs is released later today