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  • Raw Materials Price Index in Canada rose less than expected in July.
  • USD/CAD continues to trade in the negative territory near 1.3060.

“Prices for raw materials purchased by manufacturers operating in Canada, as measured by the Raw Materials Price Index (RMPI), increased 3.0%, mainly as a result of higher prices for crude energy products,” Statistics Canada reported on Monday. This reading followed’s June’s increase of 7.5% and came in below the market expectation of 6.9%.

Further details of the report revealed that the Industrial Product Price Index (IPPI) rose 0.7% in July, compared to analysts’ estimate of 0.5%.

Market reaction

The USD/CAD pair largely ignored these data and was last seen losing 0.25% on a daily basis at 1.3065. 

Expert score

5

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