# Canadian dollar rises as CPI data clips jumbo rate cut bets

> Canada's annual inflation rate rose to 2.0% in October from 1.6% in September, slightly above the 1.9% economists had expected. The Canadian dollar traded 0.3% higher at 1.3970 per US dollar, extending its rebound from a 4-1/2-year low. The stronger inflation print reduced bets on a large Bank of Canada rate cut.

- Date: 2024-11-19 · published 2024-11-19T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/27654-canadian-dollar-rises-as-cpi-data-clips-jumbo-rate-cut-bets
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Firmer inflation data reduces the chance of aggressive Bank of Canada easing, which supports the loonie and makes Canadian-dollar-priced exports relatively more expensive. This has only a modest direct effect on feed commodity prices.

## Read by commodity

- USDCAD: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/canadian-dollar-rises-cpi-data-clips-jumbo-rate-cut-bets-2024-11-19/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.