Canadian consumer price index declines in November. Canadian dollar mixed in currency trade today. | CountingPips Forex Blog

December 19, 2008 - Forex Economic News

Canadian consumer price index declines in November. Canadian dollar mixed in currency trade today.

Canada’s consumer prices decreased in November according to data released today by Statistics Canada. The consumer price index fell by 0.3 percent in November following a decline of 1.0 percent in October. The decrease brought the an annual rate gain to 2.0 CAD mixed in Currency Trading percent in November following October's 2.6 percent annual increase. Market forecasts were expecting the consumer price index to decline by 0.8 percent for the month to register an annual rate of 1.5 percent.

Core consumer prices, excluding food and energy prices, unexpectedly increased by 0.7 percent in November following a decline of 0.2 percent in October. The November annual rate increased to 2.4 percent from 1.7 percent in October. Market forecasts expected core consumer prices to decrease by 0.1 percent in November to register an annual rate of 1.6 percent.

The decline of gasoline prices contributed heavily to push the consumer price levels lower as the price of gas declined by 21.4 percent in November and by 14.4 percent in the 12 months through November.

Canadian dollar mixed in currency trading.

The Canadian dollar has been mixed today in the currency markets against most of the major currencies. The US dollar has gained ground verses the Canadian dollar from today's opening exchange rate of 1.2055 to trading at 1.2254 this afternoon in the US trading session at 1:54pm ET.

The euro, meanwhile, has fallen verses the CAD in trading today as the EUR/CAD currency pair has declined from 1.7196 to trading at 1.7030. The British pound has declined verse the CAD as the GBP/CAD has fallen from the 1.8235 opening to trading at 1.8165 later today.

The Canadian dollar has lost ground against the Japanese yen as the CAD/JPY has declined from its 74.05 opening to trading at approximately 72.91. The Australian dollar has increased verses the CAD today as the AUD/CAD has advanced from 0.8266 to trading at 0.8299 today while the New Zealand dollar has also increased verses the CAD from 0.6972 to trading at 0.7017.

USD/CAD Chart - The US dollar gaining ground today verses the Canadian dollar in currency trading(30 min. Chart).

Today's Forex Chart

tags: canada consumer prices, cad, currency trading

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