Common CPI y/y (CAD) comes in at 2.6% against 2.9% consensus
| Pair | Now | Since publish |
|---|---|---|
| USDCAD | — | — |
Common CPI year over year for Canada was reported at 2.6%. This figure came in below the consensus estimate of 2.9% and was also lower than the previous reading of 2.7%. The actual print represented a -10.3% surprise compared to the market consensus.
Following the release, the Canadian dollar showed weakness against major pairs over the initial 15 minutes. USDCAD rose by 6.8 pips, EURCAD increased by 13 pips, and GBPCAD gained 7.5 pips. AUDCAD moved up by 5.1 pips, NZDCAD by 4.4 pips, CADCHF fell by 2.5 pips, and CADJPY declined by 4.5 pips. These initial moves are currently smaller than the median 1-hour moves observed after past releases for most pairs. For instance, USDCAD’s 15-minute move of 6.8 pips is below its median 1-hour move of 15 pips, and EURCAD’s 13 pips is below its median 1-hour move of 23 pips.