14:30 - Canada CPI (November):
- MoM: 0,1% (Expected: 0.1%; Previous: 0.2%)
- YoY: 2,2% (Expected: 2.3%; Previous: 2.2%)
- Core MoM: -0,1% (Previous: 0.6% )
- Core YoY: 2,9% (Previous: 2.9%)
- Manufacturing sales (October): -1% (Expected: -1.1%; Previous: 3,3% )
Consumer prices in Canada have shown a steady level of price dynamics in holistic terms. Monthly CPI was in match with expectations, while yearly it proved to be minimally lower.
In base inflation, we can observe an contraction in prices. This would mark the first time in almost a year. Yearly core CPI remains steady and in line with expectations.
Overall, the dynamic of price increase shows a small but noticeable weakening. Most data came out in line with expectations; therefore, USDCAD reaction shows a small depreciation of Canadian currency. This reflects the market's expectation of slightly looser monetary policy expected of the Bank of Canada.
USDCAD (M1)
Source: xStation5
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