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Canadian consumer price inflation falls more than expected

25 Jan

This week was strewn with macroeconomic indicators coming from Canada. Tuesday was published the retail sales that came under analysts expectations when considering car sales. Wednesday Bank of Canada has kept interest rates at 1% but cut estimates at 2% growth which led to a strong depreciation of the Canadian dollar to the U.S. dollar at parity.

USDCAD  was pushed to 1.0064 the next period, pending the inflation index. It came in line with market expectations and below estimates, at a value of -0.6% for the last month. 0.4 percent lower than analysts’ expectations, its publication led to a new low for the week at 1.0089. The next resistance level is at 1.0100, but do not overlook the possibility of a correction signaled to some extent on the RSI oscillator which is in an area of ​​overbought


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