Canadian Dollar Falls to 1.39 per USD as 3.0% CPI Bolsters Fed Tightening View
Updated
Updated · TradingView · Sep 14
Canadian Dollar Falls to 1.39 per USD as 3.0% CPI Bolsters Fed Tightening View
3 articles · Updated · TradingView · Sep 14
Summary
Around C$1.39 per US dollar, the loonie slid to a one-month low in mid-September after Canada’s August inflation report came in tame.
Canada’s headline CPI held at 3.0% year on year, while the Bank of Canada’s median and trimmed-mean gauges stayed contained at 2.0% and 1.9%, easing pressure for a more hawkish domestic outlook.
Rising Middle East-driven oil and fuel prices would normally support the currency of a major crude exporter, but this surge instead revived inflation worries in the US and lifted the dollar.
September 16 Fed rate-hike expectations strengthened that move, leaving the Canadian dollar under pressure despite firmer energy markets.