Canadian Dollar Remains Weak Post-CPI, as Gold Breaches 2000 Barrier - Action Forex
Canadian Dollar exhibited softness in early US session, a reaction to lower-than-expected consumer inflation readings. This development, indicative of ongoing disinflation, could bolster BoC's confidence to maintain its current policy stance in the upcoming December meeting. Notably, Canadian Dollar has been unique among major currencies in its inability to break above prior week's high against Dollar. This performance is also influenced by recent weaknesses in oil prices, as WTI crude remains capped well below 80 mark despite some recovery this week.
Canadian Dollar exhibited softness in early US session, a reaction to lower-than-expected consumer inflation readings. This development, indicative of ongoing disinflation, could bolster BoC's confidence to maintain its current policy stance in the upcoming December meeting. Notably, Canadian Dollar has been unique among major currencies in its inability to break above prior week's high against Dollar. This performance is also influenced by recent weaknesses in oil prices, as WTI crude remains capped well below 80 mark despite some recovery this week.
