Inflation Data in Canada
- Core Consumer Price Index (CPI) (m/m) (May), fact 0.4%, previous value 0.0%.
- Core Consumer Price Index (CPI) (y/y) (May), fact 2.1%, forecast 1.2%.
- Consumer Price Index (CPI) (m/m) (May), fact 0.4%, forecast 0.1%.
The data on consumer price index (CPI) in Canada for May showed an increase unexpectedly. Thus, the core consumer price index on an annualized basis rose to the highs of August 2016, approaching the maximum values over the past three years.
Fig. 1. Core consumer price index (CPI) (y) in Canada
Against the background of positive inflation data in Canada, the USD/CAD pair broke the upward weekly trend and moved to a correction. Under the conditions of the development of a full-scale correction, we can expect the test to support: 1.3300 and 1.3280.
Fig. 2. USD/CAD chart. Current price – 1.3340.
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Hanzenko Anton
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