Canadian Dollar Lower Ahead of CPI Data - Action Forex
Canada releases December CPI later today, which is expected to rise to 3.4% y/y, up from 3.1% in November. Interestingly, the US inflation report for December rose to 3.4%, up from 3.1% a month earlier. The upward spike in US inflation was driven by gasoline prices, which fell at a slower pace in December than in November. This could repeat itself in the Canadian release.
Canada releases December CPI later today, which is expected to rise to 3.4% y/y, up from 3.1% in November. Interestingly, the US inflation report for December rose to 3.4%, up from 3.1% a month earlier. The upward spike in US inflation was driven by gasoline prices, which fell at a slower pace in December than in November. This could repeat itself in the Canadian release.
