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US Dollar Strengthens Against The Loonie After US PCE Data, Gold Edges Down

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The US dollar strengthened against its Canadian counterpart on Wednesday, after the latest US inflation data largely met expectations. Gold prices nudged lower.

Core personal consumption expenditure (PCE) data rose 0.2% month-on-month in July, according to the US Bureau of Economic Analysis. The core PCE inflation remained unchanged year-on-year at 3.3%.

The US dollar rose 0.3% to C$1.3874 on last look.

Comex gold December futures fell 0.9% to $4,651.60.

West Texas Intermediate October crude oil futures, the US benchmark, rose 0.3% to $82.62 per barrel. October Brent oil futures, the international benchmark, fell 0.1% to $88.49 per barrel.

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