Investing.com - The U.S. dollar was trading moderately higher against its Canadian counterpart on Friday, despite the release of disappointing U.S. data dampened optimism over the economy and concerns over fresh U.S. political turmoil.
US economic economic releases were weaker than expected on Friday with the second successive miss for CPI data. Gold prices drew support from a weaker dollar and lower Treasury yields.
The forex reserves touched a fresh life-time high of $375.71 billion after rising by $2.985 billion in the week to May 5, helped by increase in foreign currency assets, the Reserve Bank said.
G7 economic leaders will use the same language on trade, currencies and monetary policy at the end of their meeting in Italy on Saturday as the larger Group of 20 did in March at a meeting in Germany, an Italian G7 official said.
Next trading day's important events
- USDJPY: 113.36
- EURUSD: 1.0920
- S&P 500: 2389.90
- NASDAQ: 6115.78