Inflation slows down in Canada

Source: Dukascopy Bank SA


The Consumer Price Index of Canada has revealed that prices have grown in 2.8% in February, compared to February of 2023. The markets expected a 3.1% increase. On a month on month basis prices have risen 0.3% instead of forecast 0.6%

The news caused a surge of the USD/CAD, as the value of the Canadian Dollar declined due to algorithmic trading. Namely, the market algorithms took in the news as a base for upcoming monetary easing in Canada. However, the markets eventually pushed the rate back down to 1.3550
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