The consumer price index in Canada it rose 0.5% in May, above the 0.4% expected and matching the advance of the previous month. The annual rate went from 3.4% to 3.6%, above the 3.5% of the market consensus.
The Bank of Canada’s underlying consumer price index recorded an advance in May of 0.4%, in line with expectations. The annual rate went from 2.3% to 2.8%, surpassing the 2.4% of the market consensus.
The loonie it fell back in the market after the data. USD / CAD went from testing the day’s lows near 1.2170 to bouncing around 10 pips.
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