Inflation Data in Canada

• Core Consumer Price Index (CPI) (m/m) (July), fact 0.3%, previous value 0.0%
• Core Consumer Price Index (CPI) (y/y) (July), fact 2.0%, previous value 2.0%.
• Consumer Price Index (CPI) (m/m) (July), fact 0.5%, forecast 0.2%.

Consumer Price Index in Canada for July unexpectedly accelerated, remaining at the target annual rate, but showing growth on a monthly basis. This served as a driver for the growth of the Canadian dollar.

Fig. 1. Core consumer price index (CPI) in Canada

The Canadian dollar accelerated growth against most competitors in these statistics, but the strengthening of the Canadian dollar was limited. Thus, the USD/CAD pair was limited by the monthly uptrend and the risks of a slowdown in the global economy. This pair is limited by support levels: 1.3250 and 1.3230.

Fig. 2. USD/CAD chart. Current price – 1.3270

Read also: “The main reasons for the weakening US dollar.
Fed’s rate cuts”

Hanzenko Anton

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