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[ANNOUNCE] The Canadian Dollar soared significantly against its American counterpart after the data showed a stronger-than-anticipated monthly gain in Canada's consumer price inflation. The USD/CAD currency pair plunged 47 base points, or 0.37%, to touch the intraday low of 1.2655, but right after that it reversed and continued to go back up to the 1.2700 area. [/ANNOUNCE]
Statistics Canada reported on Friday that the country's consumer inflation marked a 0.7% monthly increase in January, putting an annual growth rate to 1.7% in the reported period. These gains were mainly supported by rising prices in all eight major components, from which household operations, furnishings and equipment index had the largest increase.
| Historical Data Table: Canada CPI m/m | Economic Calendar for Feb 26.02.2018 | ||||||||
| Date | 20.10.2017 | 17.11.2017 | 21.12.2017 | 26.01.2018 | 23.02.2018 | 2:00 PM | ECB President Draghi Speaks | ||
| Actual | 0.10% | 0.10% | 0.30% | -0.40% | 0.70% | 3:00 PM | US New Home Sales | ||
| Forecast | 0.30% | 0.10% | 0.20% | -0.30% | 0.40% | 9:45 PM | NZD Trade Balance | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| AUD/CAD | 0.99302 | 0.98953 | -0.35% | AUD/CAD | 63.97% | 36.03% | |||
| CAD/CHF | 0.73761 | 0.73976 | 0.29% | CAD/CHF | 71.26% | 28.74% | |||
| EUR/CAD | 1.56162 | 1.55593 | -0.36% | EUR/CAD | 26.04% | 73.96% | |||
| USD/CAD | 1.27023 | 1.2655 | -0.37% | USD/CAD | 49.24% | 50.76% | |||