Manufacturing Sales increased by 0.5% to $56.2 billion in February
Fundamental Forex Analysis

Annual CPI drops to -0.2% in April vs. -0.1% expected

  • 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.

Market reaction

The USD/CAD pair largely ignored these data and was last seen losing 0.35% on the day at 1.3890.

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