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A report released by the Labor Department on Tuesday showed U.S. labor productivity continued to slump in the second quarter of 2022, while labor costs continued to soar. The Labor Department said labor productivity tumbled by 4.6 percent in the second quarter after plummeting by a revised 7.4 percent in the first quarter.

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China consumer price inflation accelerated to the highest in two years in July driven by pork prices, while factory gate inflation continued to ease, official data revealed Wednesday. Consumer price inflation rose to a two-year high of 2.7 percent in July from 2.5 percent in June, the National Bureau of Statistics reported. But the rate was below economists' forecast of 2.9 percent.

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A measure of the public assessment of the Japanese economy weakened in July, survey data from the Cabinet Office showed on Monday.

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Japan posted a current account deficit of 132.4 billion yen in June, the Ministry of Finance said on Monday.

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The update to the US Consumer Price Index (CPI) may sway USD/CAD as the Federal Reserve struggles to reduce inflation. The daily price is breaking 1,2934 resistance level to above for the primary daily bullish trend to be continuing, alternatively - the price will be on secondary ranging above Ichimoku cloud waiting for direction.

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