Inflation in Canada is lifting its head: CPI is up 0.1% m/m and 2.4% y/y. Core COI is up 0.3% and 2.3% y/y. This is a beat. While a rate hike is not on the cards, the BOC could change its stance. USD/CAD is trading lower, getting closer to 1.12. Update: the pair is dipping below this line. Further support awaits at 1.1111 which is 0.90 on CAD/USD. Resistance is at 1.1250, which was pierced through with a lot of momentum. See the Canadian $ forecast for more. Canada was expected to report a drop of 0.3% in CPI and a rise of 0.2% in Core CPI, month over month. Year over year, a rise of 2.1% was expected in headline inflation and 2.2% in core inflation. USD/CAD traded around 1.1255 before the release, already down from around 1.13. The Canadian dollar already got a boost earlier from the Chinese announcement on a rate cut. This helped all commodity currencies. The Bank of Canada recently made a subtle change to its neutral stance, basically accepting that the picture of inflation has changed. Here is how it looks on the 30 minute chart. The pair extends its falls. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next EUR/USD: One More Leg Lower Before Flattening-Out In Dec Yohay Elam 7 years Inflation in Canada is lifting its head: CPI is up 0.1% m/m and 2.4% y/y. Core COI is up 0.3% and 2.3% y/y. This is a beat. While a rate hike is not on the cards, the BOC could change its stance. USD/CAD is trading lower, getting closer to 1.12. Update: the pair is dipping below this line. Further support awaits at 1.1111 which is 0.90 on CAD/USD. Resistance is at 1.1250, which was pierced through with a lot of momentum. See the Canadian $ forecast for more. Canada was expected to report a drop of 0.3% in CPI and… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
