Inflation in the US cooled off further to 2.5% over the year to the end of June, according to the latest reading of US Bureau of Economic Analysis's PCE price index.
US GDP grew at a 2.8% annualized rate in Q2, supported by acceleration in consumer spending, increase in nonresidential fixed investment as well as an upturn in private inventory investment
Annual inflation rate in Canada eased back to less than 2.7% in June after a upshot in the previous month, according to Statistics Canada's CPI report.
US nonfarm payroll increased by 206,000 in June, beating market expectation of 190,000, amid signs that job growth in cooling off as the the Bureau of Labor Statistics revised down the May and April by a combined 111,000 in its report released Friday.