CAD sees little reaction to downbeat PPI inflation data

2:36 PM 18 November 2022

Producer prices in Canada rose sharply to 2.4% MoM in October, from flat reading in September and against market expectations of a 0.4% rise.

Main upward pressure came from prices of refined petroleum energy products (+14.9%), which posted the first increase in four months, and the largest monthly increase for the category since March 2022 (+19.3%).

On a yearly basis, producer prices rose by 10.1%, after an upwardly revised 9.1% increase in the previous month.

USDCAD saw a relatively small reaction to today’s data release. Currency pair continued to trade around 1.3340 level, below 200 SMA (red line). Source: xStation5

Share:
Back

Join over 1 600 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits