BREAKING: Canadian CPI much lower than expected. USDCAD reacts

Canadian CPI YoY: 2.3% (Forecast 2.7%, Previous 2.6%)

Canadian MoM CPI came in 0.3% vs 0.7 exp and 1.1% previously

Canadian Manufacturing sales came in at 0.2% vs -0.2% exp. and 1.7% previously

The CPI data from Canada points to slowing Canadian economy and probably will give much more space for Bank of Canda to cut rates further. Canadian dollar loses against the US dollar as NY Fed Manufacturing report came in stronger than expected at -8.1 vs -13.5 exp. and -20 previously. USDCAD pair jumps after the Canadian CPI report; now gaining 0.2%.

Source: xStation5

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