CAD Gains vs. USD & EUR on Economic Data, Flat vs. JPY

The Canadian dollar gained against the euro and the US dollar as macroeconomic data from the eurozone and the United States was bad. The currency was flat versus the Japanese yen. US industrial production fell 0.5 percent in April after rising 0.3 percent in March. The Producer Price Index edged down 0.7 percent last month.
The negative reports led to talks that the Federal Reserve will maintain its monetary stimulus. The news from Europe was not good either. It is interesting to see that the Canadian currency maintained strength even amid negative fundamental data. USD/CAD was down from 1.0178 to 1.0163 as of 23:01 GMT today after rising to 1.0218. EUR/CAD dropped from 1.3149 to 1.3088, while CAD/JPY was almost unchanged at 100.56. If you have any questions, comments or opinions regarding the Canadian Dollar, feel free to post them using the commentary form below.