# Canadian dollar posts modest gain as inflation slows

> The Canadian dollar gained slightly against the US dollar after Canada's annual inflation rate eased more than expected to 3.1% in October. Core inflation measures also fell to their lowest levels in about two years.

- Date: 2023-11-21 · published 2023-11-21T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/33401-canadian-dollar-posts-modest-gain-as-inflation-slows
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Cooling inflation raises expectations that the Bank of Canada can ease rates, which tends to weaken the loonie over time and can make Canadian exports more competitive for feed and grain buyers.

## Read by commodity

- USDCAD: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/c-notches-limited-gains-cpi-data-supports-rate-cut-bets-2023-11-21/

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