The year-over-year CPI inflation in Canada for December was 3.4% (in line with expectations), compared to 3.1% in November.
- On a monthly basis, there was a decrease of -0.3% (as expected), compared to a 0.1% increase previously.
- The core measure according to the Bank of Canada was 2.6%, compared to 2.8% previously (-0.5% month-over-month compared to a 0.1% in the previous reading).
Today, USDCAD gained 0.3% and managed to erase a significant part of the losses after the publication. Simultaneously with the inflation data, a regional economic activity index from the New York area was released, which led to a weakening of the dollar. The USDCAD pair has been limiting its initial gains from the first part of the day.

source: xStation 5
Economic calendar (22.05.2026) US UoM final data in focus, German Ifo beats expectations
Weak retail sales data from UK ๐What's next for GBPUSD?
Morning wrap (22.05.2026) Nasdaq climbs higher, supporting European and Asian stocks
Daily summary: Peace agreement draft lifts the market