Canada Inflation Data

• Basic Consumer Price Index (CPI) (m/m) (oct), fact 0.4%, previous value 0.0%.
• Basic Consumer Price Index (CPI) (y/y) (oct), fact 1.9%, forecast 1.9%.
• Consumer Price Index (CPI) (m/m) (oct), fact 0.3%, forecast 0.3%.

Consumer inflation in Canada fully coincided with market expectations, confirming the inflation rate slightly below the target level of 2%, but also indicating a slowdown in decline and stabilization, which can be regarded as a positive indicator.

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

This supported the Canadian dollar and caused a correction after its decline. The USD/CAD pair went down to the correction, having fallen off from the level of 1.3300-10, actually being limited by the support levels: 1.3260 and 1.3230.

Fig. 2. USD/CAD chart

Read also: “How far the prospects for USD/JPY may be downward”

Hanzenko Anton

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