XE Market Analysis: Canadian CPI Cools Less Than Forecast

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OVERVIEW

  • USD closing the week marginally firmer.
  • GBP higher on positive tone from government strategy meeting.
  • EUR weaker as inflation remained soft last month. 
  • JPY rises despite still weak inflation.

HIGHLIGHT

Canadian annual inflation cooled less than expected last month with CPI rising 1.7%, down from 1.9% in December. With core inflation averaging 1.8%, the data was keeping the Bank of Canada on its gradual tightening path.