USDCAD rallies on disappointing Canada CPI

23 October,, Lagos – Canada’s Core CPI m/m and the CPI m/m disappointed, coming at 0.2 percent and – 0.2 percent respectively.

According to the official report from the Canadian statistics department, the smaller year-over-year increase in the Canada CPI in September compared with August was mostly attributable to an 18.8% year-over-year decline in gasoline prices in September, following a 12.6% decrease the previous month.

USDCAD effect

Screen Shot 2015-10-23 at 2.17.00 PM, Canada CPI

The Canadian dollar fell across board after the release of the disappointing Canada CPI. This served the USDCAD well as the pair has been in a week long rally, and looks to end the week on an even stronger note.
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This rally is expected to continue into the coming week as the USD remains strong on the back of impressive fundamentals lately while the CAD seems to be heading back to 12 year low region against the USD.

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