The Canadian dollar rose to a two-week high as inflation accelerated

The Canadian dollar rose to its highest level in two weeks against its US counterpart on Monday, and bond yields also rose, after local data showed inflation accelerating faster than expected, while investors awaited an important deadline for the imposition of new US tariffs on Canadian goods. The Canadian dollar rose 0.2% to 1.3850 Canadian dollars per US dollar, or the equivalent of 72.20 US cents, after touching 1.3845 during trading, which is

Its strongest level since June 1st. Data showed that Canada's annual inflation rate accelerated to 3% in July, exceeding expectations of 2.9%, with gasoline prices rising due to renewed tensions between the United States and Iran. In contrast, the core inflation measures, the CPI-trim and CPI-median, came in at 1.9% and 2%, respectively. “Overall, data remains...

July is consistent with a relatively favorable combination of improved economic growth and stabilization of core inflation near target. They added that the approaching deadline for US tariffs adds a state of uncertainty, and that the proposed measures will have major repercussions on some affected sectors and regions, but their limited scope makes them unlikely to impede the broader economic recovery. US tariffs add uncertainty Yields rose

Canadian 10-year bonds rose by about 17 basis points over the past month, the largest increase among G7 bond yields excluding Japan, after jobs, trade and gross domestic product data pointed to a recovery in the domestic economy after a slow start to the year. The United States said that, starting August 19, it will impose customs duties of 50% on Canadian goods worth about $20 billion, equivalent to about 5.2% of the value of Canadian goods.

Canada's exports to the United States. Dominique LeBlanc, the Canadian minister responsible for trade with the United States, told an advisory committee on Friday that Canada and the United States are still far from reaching a draft trade agreement, despite holding regular meetings between the two sides. In separate data, figures showed that foreign investors bought a net 40.83 billion Canadian dollars (29.46 billion US dollars) of Canadian securities.

In June, they were mainly driven by the purchase of federal government bonds. In the bond market, Canadian yields have risen along the yield curve; The 30-year bond yield rose by 2.6 basis points to 4.117%, after earlier recording 4.145%, its highest level since March 2010.

Canada's annual inflation rate accelerated to 3% in July, slightly above expectations, as gasoline prices rose again on renewed interstate tensions.

United States and Iran, along with increased costs for tourist trips, according to data released on Monday.

Most US stock indices fell during trading on Monday, as markets assessed the escalating tensions between the United States and Iran, while strong expectations for the revenues of the artificial intelligence company Anthropic helped support some technology sector stocks.

Copper prices rose to their highest levels in more than six months during trading on Monday.

Buoyed by concerns about the availability of the metal on the London Metal Exchange (LME), stocks fell to their lowest levels since February.