CAD weakens on strong inflation data from Canada

1:38 PM 20 April 2022

Canada’s annual inflation rate increased to 6.70 % in March from 5.7 % in February and well above market expectations of a 6.1% rise. Core consumer prices in Canada increased to 5.50% in March YoY from 4.8% in previous month, while analysts expected reading of 4.2%.

Today's higher inflation reading may be another impulse for the BoC to raise interest rates, especially considering that the central bank originally wanted rated in 2022 around 2.0%.

USDCAD initially currency pair fell after the relelase of today's inflation data, however buyers manage to quickly regain control and price is heading towards resistance at 1.2540. 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