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USD/CAD – Loonie rallies hard on inflation data

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Canadian headline inflation this morning beat market expectations and printed a seven-year high last month, while the measure of core-inflation remained relatively stable.

Canada’s CPI rose +3.0% y/y, following a +2.5% rise in June. Market expectations were looking for a headline print of +2.5%. On a month-over-month basis, prices rose +0.5% in July, after advancing a revised +0.2% in June. Read more…

 

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