Investing.com – The U.S. dollar turned lower against its Canadian counterpart on Friday, erasing earlier gains posted after the release of mostly positive U.S. economic reports, even as a decline in oil prices dampened demand for the commodity-related Canadian currency.
was down 0.11% at 1.2506 by 09:30 a.m. ET (13:30 GMT), off a session high of 1.2556.
The U.S. Commerce Department reported on Thursday that retail sales rose in December, in line with expectations. Core retail sales, which exclude automobile sales, increased by , also in line with expectations.
A separate report showed that that the U.S. consumer price index rose in December, below forecasts for a 0.2% increase. Year-over-year, consumer prices increased last month.
Core CPI, which excludes food and energy costs, rose last month, above expectations for a 0.2% gain.
Meanwhile, the Canadian dollar was pressured lower by a decline in on Friday, although losses were expected to be limited.
The loonie was lower against the euro, with up 0.86% at 1.5191.
The single currency remained broadly supported after the European Central Bank said it could consider from early 2018, according to the minutes of its December meeting.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Latest posts by investing.com (see all)
- Forex- U.S. Dollar Falls as Sterling Rises - March 20, 2018
- Forex – GBP/USD Surge Above $1.40 Weighs on Dollar Ahead of FOMC - March 19, 2018
- Forex – Dollar Index Holds Steady with Fed Meeting in Focus - March 19, 2018