Home›Forex›Major Pairs›USD/CAD slips after softer US PCE inflation data

USD/CAD slips after softer US PCE inflation data

The move followed a drop in annual PCE inflation to 3.4% in August, below the 3.7% expected by markets.

Reported · Written up by our desk · Major Pairs

FXStreet reports USD/CAD fell 0.08% on Wednesday, trading around 1.4180 after hitting a daily low of 1.4155 following US inflation data.

The US Personal Consumption Expenditures (PCE) Price Index showed annual inflation at 3.4% in August, down from 3.4% in July and below the 3.7% expected, while markets also revised July higher to 3.4% from 3.7% in the reported figures.

Core PCE, excluding volatile food and energy, held steady at 3.0% year over year, while headline PCE rose 0.3% on the month and core PCE increased 0.2%.

FXStreet also noted the softer inflation prints came alongside stronger economic data, including ADP reporting the US private sector added 90K jobs in September versus 70K expected.

More like this

Sources