Canada’s CPI now over the Bank of Canada’s target inflation rate.
Today’s Consumer Price Index exceeded not only expectations, but also the Bank of Canada’s 2% target rate. The jump was primarily due to higher gas prices, but combined with the growth in retail sales, the BoC is now in a position to re-examine rate hikes. It’s biggest concern is household debt, and it’s looking at ways to contain it.
Support Resistance
USDCAD 1.2700, 1.2688, 1.2675 1.2730, 1.2740, 1.2765
Yesterday, the Federal Reserve stated that it was rapidly reducing the amounts of its monthly bond purchases. The Fed will be buying $60 billion of bonds each month starting in January, half the level prior to the November taper and $30 billion less than it had been buying in December. Once the bond purchasing program […]
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The Federal Reserve will announce no rate change but will announce that its tapering will close off a lot quicker than they even thought two months ago. Inflation is sticking around a lot longer than expected and now central banks around the world will follow suit after the FED. Since this is fully anticipated market […]
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Markets generally are unchanged as investors continue to digest what exactly is going on with the Omicron variant, there are reports out of South Africa that it has already peaked and is subsiding, whether this is just the South African government trying to talk it down remains to be seen. Not sure if we should […]
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