{"id":83883,"date":"2019-12-19T04:00:36","date_gmt":"2019-12-19T09:00:36","guid":{"rendered":"https:\/\/currencylive.com\/?p=83883"},"modified":"2019-12-19T04:08:22","modified_gmt":"2019-12-19T09:08:22","slug":"101820-usd-cad-canadian-dollar-rallies-after-solid-inflation-data-retail-sales-next","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/101820-usd-cad-canadian-dollar-rallies-after-solid-inflation-data-retail-sales-next\/","title":{"rendered":"USD\/CAD: Canadian Dollar Rallies After Solid Inflation Data, Retail Sales Next"},"content":{"rendered":"<p><a href=\"http:\/\/currencylive.com\/currency\/usd\/\">The US dollar<\/a> slipped lower versus <a href=\"http:\/\/currencylive.com\/currency\/cad\/\">the Canadian dollar<\/a> on Wednesday. The US dollar Canadian dollar dropped to a low of 1.3114. The US dollar is on track to weaken for the fourth straight week versus its Canadian counterpart.<\/p>\n<p>The US dollar declined in the previous session despite a week of stronger than forecast data. On Tuesday housing data impressed investors, as did manufacturing and industrial production numbers. Data showed that US manufacturing output increased 1.1% month on month in November, a significant improvement on the -0.7% decline in October. The data suggests that the slump in the US manufacturing sector is easing and the sector is rebounding.<\/p>\n<p>There was no influential US <a href=\"http:\/\/currencylive.com\/topic\/economy\/\">economic<\/a> data on Wednesday. With a lull in US \u2014 China trade headlines, investors will remain focused on the US economic calendar. Today sees the release of the US jobless claims and existing homes sales.<\/p>\n<p>The dollar is not expected to react to the fallout from Trump\u2019s impeachment trial. Given that the chances of Trump being ousted are extremely slim, the dollar is not reacting to the Trump story.<\/p>\n<h2>Canadian Dollar Looks To Retail Sales<\/h2>\n<p>The Canadian dollar rallied following the release of Canadian inflation data on Wednesday. Data showed that consumer prices picked up be more than expected in November. The consumer price index, the Canadian central bank\u2019s preferred measure of inflation rose to 2.2% in November compared to a year ago. This was up from 1.9% year on year in October.<\/p>\n<p>The increase in inflation was driven principally by higher energy prices, which have increased 1.5% year on year. The report also showed that core inflation, which strips out more volatile items such as food and fuel rose 2.4% year on year. This s the highest that core inflation has been since March 2009.<\/p>\n<p>The Canadian dollar rallied following the strong inflation report as central banks are more likely to hike rates than cut interest rates when inflation is strong. Investors will now look ahead to Friday\u2019s retail sales data for further clues over the health of the Canadian economy.<\/p>\n<hr \/>\n<h6><em>Currencylive.com<\/em><em> is a news site only and not a currency trading platform.<\/em><\/h6>\n<h6><em>Currencylive.com is a site operated by TransferWise Inc. (&#8220;We&#8221;, &#8220;Us&#8221;), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on currencylive.com do not represent our views.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"<p>The US dollar slipped lower versus the Canadian dollar on Wednesday. The US dollar Canadian dollar dropped to a low of 1.3114. The US dollar is on track to weaken for the fourth straight week versus its Canadian counterpart. The US dollar declined in the previous session despite a week of stronger than forecast data. [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":82401,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1694,1381],"tags":[1680,1398],"class_list":{"0":"post-83883","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-cad","8":"category-usd","9":"tag-cad","10":"tag-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>USD\/CAD: Canadian Dollar Rallies After Solid Inflation Data, Retail Sales Next - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/101820-usd-cad-canadian-dollar-rallies-after-solid-inflation-data-retail-sales-next\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101820-usd-cad-canadian-dollar-rallies-after-solid-inflation-data-retail-sales-next\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101820-usd-cad-canadian-dollar-rallies-after-solid-inflation-data-retail-sales-next\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"USD\\\/CAD: Canadian Dollar Rallies After Solid Inflation Data, Retail Sales Next\",\"datePublished\":\"2019-12-19T09:00:36+00:00\",\"dateModified\":\"2019-12-19T09:08:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101820-usd-cad-canadian-dollar-rallies-after-solid-inflation-data-retail-sales-next\\\/\"},\"wordCount\":598,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101820-usd-cad-canadian-dollar-rallies-after-solid-inflation-data-retail-sales-next\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/usd-cad-exchange-rate.jpg\",\"keywords\":[\"cad\",\"usd\"],\"articleSection\":[\"CAD\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101820-usd-cad-canadian-dollar-rallies-after-solid-inflation-data-retail-sales-next\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101820-usd-cad-canadian-dollar-rallies-after-solid-inflation-data-retail-sales-next\\\/\",\"name\":\"USD\\\/CAD: Canadian Dollar Rallies After Solid Inflation Data, Retail Sales Next - 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