Canadian consumer prices increase in August. Loonie falls vs USD in fx trade today. | CountingPips Forex Blog

September 23, 2008 - Forex Economic News

Canadian consumer prices increase in August. Loonie falls vs USD in fx trade today.

Canada’s consumer prices increased in August to an annual rate gain of 3.5 percent, a rise from July's 3.4 percent annual increase according to data released today by Statistics Canada. Higher energy costs, including a 26.3 percent annual gain in gasoline prices helped contribute to the highest annual rate of consumer prices since 2003. The monthly change from July to August amounted to a seasonally adjusted increase of 0.2 percent following Forex Trading Today July's 0.3 percent increase and surpassing market forecasts expecting a 0.2 percent decrease. Core consumer prices, excluding energy prices, increased by 0.3 percent in August and registered a annual increase of 1.8 percent. Market forecasts expected core consumer prices to increase by 0.1 percent in August and register an annual increase of 1.5 percent.

The Canadian dollar despite the higher cpi figures for August fell against the US dollar as the American currency showed a slight turnaround after falling yesterday. The USD/CAD currency pair opened trading today at 1.0339 cad per usd and advanced to an exchange rate of 1.0355 at the end of the US trading session. Yesterday, the USD/CAD pair dropped from 1.0469 to approximately 1.0339 for a decline of approximately 130 pips by the USD.

USD/CAD Chart - The US dollar gains slightly vs. the Canadian dollar today in forex trading (1Hour Chart).

Today's Forex Chart

tags: canadian cpi, prices, forex trading

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