Higher-than-expected release of Canadian consumer price index data and growth in the USD/CAD currency pairDeltafx Admin 26 December 2022
The Canadian Consumer Price Index (CPI) measures changes in the prices of goods and services, excluding food and energy, from the perspective of consumers. This is an important method of measuring changes in purchasing power trends and inflation.
Reporting a higher than expected value should be considered positive/bullish for CAD, while reporting a lower than expected value should be considered negative/bearish for CAD.
The monthly Consumer Price Index of Canada (CPI) was released at 1:30 p.m. on December 21 and came in above expectations at 0.1%. It should be noted that the value of the previous period of this index was 0.7%.
After the release of this index, the parity rate of the currency pair USD/CAD rose to 1.3662.