Canada MoM for January 0.7% vs. 0.5% expected.

The Canada inflation data came in better than expected at 1.7% vs 1.5% YoY. The MoM was also better at 0.7% vs 0.5%. The USDCAD has moved lower on the news and has moved below the 100 hur AM at 1.2652 and the 100 day MA at 1.2627. The 200 hour MA is at 1.2593.

Details:

  • Prior was +1.9% y/y
  • CPI +0.7% vs +0.5% m/m expected
  • Prior m/m reading was -0.4%

Core metrics:

  • CPI common y/y +1.8% vs +1.7% expect. Was 1.6% last month
  • CPI trim +1.5% vs +1.4% prior
  • CPI median +1.8% vs +1.8% prior (prior revised from +1.9%)

Details:

  • Prices up in 7 of 8 components
  • Transportation costs +4.9% y/y vs +5.9% prior
  • Gasoline prices 12.2% YoY, vs 19.6% in prior month