- Inflation in Canada falls more than expected in April.
- USD/CAD continues to trade in negative territory below 1.3900.
Inflation in Canada, as measured by the Consumer Price Index (CPI), was -0.2% on a yearly basis in April, the data published by Statistics Canada showed on Wednesday. On a monthly basis, the CPI arrived at -0.7%. Both of these readings were slightly lower than the market expectations.
Meanwhile, the Bank of Canada’s (BoC) core CPI, which strips volatile food and energy prices, fell to 1.2% annually from 1.6% in March.
The USD/CAD pair largely ignored these data and was last seen losing 0.35% on the day at 1.3890.