Inflation data in Canada for March - Ester Holdings
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Inflation data in Canada for March

  • The basic consumer price index (CPI) in Canada (m/m) is 0.1%, the previous value is 0.2%.
  • The base retail sales index in Canada (m/m) is -0.2%, the forecast is 0.5%.

This inflation report was disappointing for the Canadian currency due to an unexpected drop in the consumer price index on a monthly basis. The main growth of the negative is connected with the departure of the dynamics of this indicator below zero, which in future will be the main limiting factor of tightening of monetary policy in Canada.

The pair USD/CAD on this news came out from a two-week downtrend and went to the formation of the figure “double bottom”, which will be limited to resistance level 1.2910-30, which in the end will open the way to resistance levels: 1.3000 and 1.3050-70.

Fig. USD/CAD H4. The current price is 1.2900.


Also, read: “The state of Canada’s economy and prospects for raising the interest rate of the Bank of Canada”

Andre Green

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