Canadian inflation is rising faster than had been expected, reaching its highest annualized rate in nearly forty years.
UK also released its latest CPI data, which showed that the annualized rate of inflation had increased slightly as expected, from 9.0% to 9.1%.
Core inflation came in 0.1% lower than had been expected, running at an annualized rate of 5.9%, quite dramatically lower than headline CPI.More than 7 hours following the UK CPI data release, the following price changes were observed in key market barometers: +0.15%These are negligible price movementsMore than half an hour following the Canadian CPI data release, the following price changes were observed in key market barometers:TSX Index -0.
It seems the higher-than-expected Canadian inflation data is boosting the Canadian Dollar moderately, as the market slightly increases its rate hike expectations.The key takeaway from today’s releases is to expect a stronger Canadian Dollar, but so far, the effect appears to be very moderate and might disappear within a few hours.
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