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Bank of Canada Deputy Governor Sharon Kozicki said energy and gasoline prices were major drivers of August CPI inflation and that temporary energy price moves get less weight in policy. USD/CAD dipped before the CPI release and then rebounded toward 1.3446.
Policy signals that energy-driven inflation may be discounted reduce the chance of further tightening, which can weaken the CAD and affect Canadian export pricing.
investinglive.comGreg MichalowskiSep 19, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
