# Canadian Dollar Dives on CPI Surprise, Market Eyes Earlier BoC Rate Cut - ActionForex

> The Canadian dollar fell sharply after headline CPI unexpectedly declined and core inflation slowed more than expected. Traders moved to price an earlier BoC rate cut, while the yen weakened after the BoJ raised rates for the first time in 17 years.

- Date: 2024-03-19 · published 2024-03-19T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/31434-canadian-dollar-dives-on-cpi-surprise-market-eyes-earlier-boc-rate-cut
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

Earlier expected BoC easing weakens the loonie and reflects broader currency volatility, with minimal direct effect on feed commodity prices.

## Read by commodity

- USDCAD: bullish ▲
- USDJPY: bullish ▲

## Sources

- actionforex.com: https://www.actionforex.com/action-insight/market-overview/544435-canadian-dollar-dives-on-cpi-surprise-market-eyes-earlier-boc-rate-cut/

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