Loonie falls after weak inflation data
The Canadian dollar fell against most major rivals on Tuesday following forecast-missing data.
Canada's consumer prices rose 2.3% y/y in March, below estimates of 2.7%, and down from 2.6% in the previous reading.
Core prices, excluding food and energy, rose 2.2%, below estimates of 2.7%, and down from 2.7% in the previous reading.
Aussie
The Australian dollar rose 0.2% as of 20:12 GMT against its US counterpart to 0.6343.
US Dollar
The dollar index rose 0.5% as of 19:41 GMT to 100.1, with a session-high at 100.2, and a low at 99.4.
US President Donald Trump recently hinted at a potential lifting of the 25% tariffs on imported automobiles and their parts to give companies time to build factories in the US.
Otherwise, a Bloomberg report indicated China has ordered local airline companies to not order any more Boeing shipments.
Wall Street edges up as investors assess the trade war
US stock indices advanced on Tuesday as investors assess the latest developments in the US trade war with the globe.
US President Donald Trump recently hinted at a potential lifting of the 25% tariffs on imported automobiles and their parts to give companies time to build factories in the US.
Otherwise, a Bloomberg report indicated China has ordered local airline companies to not order any more Boeing shipments.
On trading, Dow Jones rose 0.1% as of 15:42 GMT, or 45 points to 40,570 points, while S&P 500 added 0.21% to 5419 points, as NASDAQ climbed 0.2% to 16,874 points.
Canada's inflation slows down in March
Canada's consumer prices rose 2.3% y/y in March, below estimates of 2.7%, and down from 2.6% in the previous reading.
Core prices, excluding food and energy, rose 2.2%, below estimates of 2.7%, and down from 2.7% in the previous reading.
Bitcoin climbs for second straight session
Bitcoin rose on Tuesday on track for the second straight profit in a row, heading for multi-week highs on positive sentiment as major corporations continue to raise their holdings of bitcoin.
America’s MicroStrategy raised its bitcoin holdings to a new record high, underpinning its institutional appeal and status.
The Price
Bitcoin rallied 1.7% today to $86,000, with a session-low at $84,353.
On Monday, bitcoin rallied 1.1%, the third profit in four sessions as the risk appetite improved worldwide.
Crypto Market Value
The market value of cryptocurrencies rose by $35 billion on Tuesday to $2.804 trillion.
MicroStrategy
Through the X Platform, MicroStrategy chairman Micheal Saylor announced a new round of bitcoin purchases amounting to 3459 units.
The purchase occurred between April 1 and 13, with the company spending $285.78 million overall, averaging $82,618 per unit.
Following the new acquisition, the company’s total bitcoin holdings amount to 531,644 units, averaging $67,619 per unit, with a total current value of $35.95 billion.