Higher-than-expected release of Canadian consumer price index data and growth in the USD/CAD currency pairDeltafx Admin 26 December 2022
Canada’s monthly gross domestic product (GDP) measures annual changes in the inflation-adjusted value of all goods and services produced by the economy. This index is the most comprehensive measure of economic activity and the primary indicator of economic health. Canada publishes new GDP data on a monthly basis.
The release of a value that is higher than expected should be considered positive/bullish for CAD, while a report that is lower than expected should be considered negative/bearish for CAD.
The Canadian GDP index was released at 1:30 p.m. on Dec. 23 at 0.1%, in line with expectations.
eanwhile, the figure of the last period of this index was corrected and stabilized at the level of 0.2%.
After the release of this index, which was able to meet expectations, at the time of the release of the index we saw the increase in the value of USD/CAD to the level of 1.3645, but eventually this currency pair fell to the level of 1.3562.