2:34 PM · 17 January 2023

BREAKING: CAD strengthens after CPI inflation data from Canada

Canada’s annual inflation fell to 6.3%YoY in December from 6.8% in November, below market expectations of 6.4%.

Core consumer prices in Canada decreased to 5.4% in December from 5.8% YoY in previous month.

Simultaneously the NY Empire State Manufacturing Index was released and dropped to -32.90 from -11.2 in December 2022, well below market expectations of -9.0

USDCAD pair pulled back to major support at 1.3410 support after release of today’s data release. Source:xStation5

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