Canadian Dollar Falls As Inflation Slows Unexpectedly
March 19 2024 - 7:38AM
RTTF2
The Canadian dollar fell against its major counterparts in the
European session on Tuesday, as the nation's annual inflation
cooled unexpectedly in February.
Data from Statistics Canada showed that the consumer price index
rose 2.8 percent year-on-year, down from a 2.9 percent gain in
January. Economists had expected inflation to rise to 3.1
percent.
On a seasonally adjusted monthly basis, consumer prices moved up
0.1 percent, compared to a 0.1 percent fall in the prior month.
Core CPI, excluding food and energy, held steady at 0.1
percent.
The loonie touched 1.3613 against the greenback, its lowest
level since December 12.
The loonie weakened to near a 2-week low of 1.4779 against the
euro, from an early nearly 2-week high of 1.4706.
The loonie retreated to 0.8878 against the aussie and 110.53
against the yen, from an early nearly 2-week high of 0.8831 and a
fresh 2-week high of 110.99, respectively.
The loonie is seen finding support around 1.38 against the
greenback, 1.49 against the euro, 0.92 against the aussie and
107.00 against the yen.
US Dollar vs CAD (FX:USDCAD)
Forex Chart
From Jun 2024 to Jul 2024
US Dollar vs CAD (FX:USDCAD)
Forex Chart
From Jul 2023 to Jul 2024