Quick Market Update, Stronger CAD

By MoneyWay | Dec 21, 2017

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

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