Inflation Declined in Canada During December, Yet USD/CAD Continues to Fall
USD/CAD continues to slide lower, despite the CPI inflation declining in December
Skerdian Meta•Wednesday, January 20, 2021•1 min read
Inflation has been turning on and off in Canada during the past year. At the end of 2019 it turned negative,but resurfaced again in the beginning of 2020.That wasn’t meant to last, with the coronavirus situation which sent crude Oil diving lower and inflation turned negative again.
In summer we saw a rebound, as the global economy opened but in November the CPI (consumer price index) softened to just 0.1%, while today’s report showed a decline for December. Nonetheless, USD/CAD continues to tumble lower, as the decline in the USD stretches further.
Canada December inflation data
- CPI MoM December -0.2% vs +0.1% expected
- CPI MoM November was +0.1%
- Core CPI December +1.0% excluding gasoline
- December CPI YoY +0.7% vs +1.0% expected
- November CPI was +1.0%
Core Inflation Measures YoY
- Median +1.8% vs 1.9% exp (prior 1.9%)
- Common +1.3% vs 1.5% exp (prior 1.5%)
- Trim +1.6% vs 1.7% exp (prior 1.7%)
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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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