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18 Oct 2013
Canadian dollar sees some selling on low inflation numbers
FXstreet.com (London) - The Loonie has seen some selling this afternoon after inflation numbers came in at the bottom end of the Bank of Canada target band.
Figures released by Statistics Canada showed consumer prices increased 1.1 percent in September year-on-year. The core inflation rate, which excludes eight volatile products, printed the same as August at 1.3 percent.
The figures come ahead of the Bank of Canada’s next meeting on 23 October, with the low inflation numbers giving Governor Stephen Poloz little reason to shift his dovish stance and raise rates from the current 1 percent level.
USD/CAD has see sawed, currently down 0.04 percent to CAD1.0285. It is down 0.02 percent on the EUR and 0.07 percent to CAD1.6647 on GBP.
Figures released by Statistics Canada showed consumer prices increased 1.1 percent in September year-on-year. The core inflation rate, which excludes eight volatile products, printed the same as August at 1.3 percent.
The figures come ahead of the Bank of Canada’s next meeting on 23 October, with the low inflation numbers giving Governor Stephen Poloz little reason to shift his dovish stance and raise rates from the current 1 percent level.
USD/CAD has see sawed, currently down 0.04 percent to CAD1.0285. It is down 0.02 percent on the EUR and 0.07 percent to CAD1.6647 on GBP.