The Retail inflation in Canada rose more than expected in January. The consumer price index (CPI) it increased 0.6% above the market consensus which was for a 0.4% rise. In December, the CPI had fallen 0.2%.
Regarding the Bank of Canada underlying index, it climbed 0.5%, and the expectation was that it would remain unchanged. The annual rate rose from 1.5% to 1.6% (against the consensus of 1.4%).
The USD / CAD remained in the previous range after the data, not moving away from 1.2700. It so happens that at the same time US retail sales and wholesale inflation data were released that showed figures above expectations, generating an appreciation of the US dollar. Against the other currencies linked to commodities, the looine (CAD) it appreciated after Canadian inflation numbers.
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