Forex — USD/CAD Trims Losses after Mostly Disappointing Canadian Data

© Reuters. Greenback eases off session lows vs. loonie after Canadian data paints mixed picture — The U.S. dollar trimmed losses against its Canadian counterpart on Friday, after mostly disappointing Canadian data dampened demand for the local currency’s gains, although sentiment on the greenback remained fragile amid fresh tensions between the U.S. and North Korea.

USD/CAD was down 0.11% at 1.2314 by 09:30 a.m. ET (13:30 GMT).

Market sentiment was hit after North Korean leader Kim Jong Un said on Friday that Pyongyang will consider the «highest level of hard-line countermeasure in history» against the U.S. in response to President Donald Trump’s threat to destroy the country.

Shortly after, North Korea’s Foreign Minister Ri Yong Ho said his country could conduct a hydrogen bomb test in the Pacific Ocean of an unprecedented scale.

In his first speech before the United Nations General Assembly on Tuesday, Trump said «the United States has great strength and patience, but if it is forced to defend itself and its allies, we will have no choice but to totally destroy North Korea.»

In Canada, data on Friday showed that inflation rose less-than-expected last month by only 0.1%, while core inflation was unchanged.

A separate report showed that retail sales showed a larger-than-expected increase in August, but the core reading was weaker than forecast.

The loonie was lower against the euro, with EUR/CAD up 0.10% at 1.4732.

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