12:33 PM · 22 June 2022

BREAKING: CAD strengthens on strong inflation data from Canada

Canada’s annual inflation rate increased to 7.7 % in May from 6.8 % in April and above market expectations of a 7.5% rise.
Core consumer prices in Canada increased to 6.1% in May YoY from 5.7% in the previous month, while analysts expected an increase of 5.9%.

USDCAD currency pair fell after the release of inflation data and is heading towards local support at 1.2950. Source: xStation5

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