Canadian CPI causes volatility

Source: Dukascopy Bank SA


At 12:30 GMT on Wednesday, the Canadian Consumer Price Index data revealed that monthly inflation in Canada had increased by 1.4%, compared to the market forecast of 0.9%. The news signaled that the local demand for the Canadian currency is higher. Moreover, the Bank of Canada could tighten the supply of the Canadian currency event further in an effort to stop inflation.

The USD/CAD reacted to the news with an immediate drop of 19 base points or 0.15%. In addition, during the almost 24 hours prior to the publication, the currency pair had declined 137 points or 1.08%.

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Fri, 22 Apr 2022 07:32:38 GMT

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At 06:00 GMT, the UK statisticians revealed that the monthly retail sales had declined in the UK by 1.4% instead of the expected 0.3%. Namely, there is a lot less demand for the GBP in the local economy. The GBP/USD reacted to the news with a drop of 115 base points or 0.88% in an hour and half after the

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On Wednesday, the Canadian Consumer Price Index data is set to impact the value of the Canadian Dollar by revealing the changes in local prices in Canada. On Thursday, the weekly US Unemployment Claims at 12:30 GMT might cause a minor USD move. On Friday, at 06:00 GMT the value of the GBP could adjust to the UK Retail Sales

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