12:34 PM · 18 May 2022

BREAKING: CAD strengthens slightly after strong inflation data from Canada

Canada’s annual inflation rate increased to 6.8% in April from 6.7 % in February and was above market expectations of a 6.7% rise.

Core consumer prices in Canada increased to 5.7% in March YoY from 5.5% in previous month, while analysts expected an decrease to 5.4%.

USDCAD saw relatively small reaction to today’s data inflation release. The currency pair is approaching 1.2800 level. Source: xStation5

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