Canadian Dollar Rose After Inflation and Retail Sales Data

The Canadian dollar has grown. The US dollar and the British pound remain the weakest major currencies in a week. The Australian dollar fell markedly after comments by the RBA Deputy Governor Guy Debelle The politician said that the discussion of a neutral rate of 3.5% at the July meeting did not matter for monetary policy.

The Canadian consumer price index fell by -0.1% mom in June. The annual rate slowed to 1.0% yoy. But still, the main indicators of inflation remained stable. Core consumer price index, which, according to the central bank, is the best indicator of economic development, rose to 1.4%. Retail sales in Canada increased by 0.6% mom in May.