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Canada: Annual CPI in January rose to 2.4% vs. 2.3% as expected

  • Annual core inflation in Canada ticked up to 1.8% as expected.
  • USD/CAD pair continues to trade in the negative territory.

Inflation in Canada, as measured by the Consumer Price Index (CPI), in January rose to 2.4% from 2.2% in December on a yearly basis, the data published by Statistics Canada showed on Wednesday. This reading came in higher than the market expectation of 2.3%.

On a monthly basis, the CPI rose 0.3% after staying unchanged in December. Additionally, the Bank of Canada's (BoC) annual core CPI, which excludes food and energy prices, ticked up to 1.8% in the same period as expected and rose 0.4% on a monthly basis.

USD/CAD stays in red

The market reaction to this data was muted and the USD/CAD pair was last seen trading at 1.3223, down 0.25% on a daily basis.

Canada Consumer Price Index (YoY) came in at 2.4%, above expectations (2.3%) in January

Canada Consumer Price Index (YoY) came in at 2.4%, above expectations (2.3%) in January
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USD/CAD keeps the red near 3-week lows post-Canadian CPI/US data, FOMC minutes in focus

The USD/CAD pair maintained its offered tone near session lows, around the 1.3225-20 region, or near three-week lows, and moved little post-US/Canadia
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