Loonie Falls As Canada Inflation Slows
2021年12月15日 - 07:14PM
RTTF2
The Canadian dollar was lower against its key counterparts in
the New York session on Wednesday, as a data showed that nation's
consumer inflation slowed in November from last month.
Data from Statistics Canada showed that the CPI rose 0.3 percent
on a seasonally adjusted monthly basis in November, after rising
0.6 percent in the previous month.
Core CPI, excluding food and energy, grew 0.1 percent in
November, following a 0.2 percent rise in October.
The CPI rose 4.7 percent on a year-over-year basis in November,
same as seen in October and matched expectations.
The U.S. Federal Reserve ends its two-day policy meeting later
today, with investors expecting a faster tapering of its bond
buying program to tackle price pressures.
The central bank will also release economic and interest rate
projections, and expectations are that the so-called dot plot could
point to one or two hikes in 2022.
The loonie depreciated to near a 4-month low of 1.2897 against
the greenback and a fresh 4-week low of 0.9208 against the aussie,
from its prior highs of 1.2845 and 0.9126, respectively. The loonie
is seen finding support around 1.30 against the greenback and 0.94
against the aussie.
The loonie fell to near a 2-week low of 1.4531 against the euro,
compared to yesterday's close of 1.4477. The loonie is likely to
test support around the 1.47 region.
The loonie dropped to a 9-day low of 88.13 against the yen from
yesterday's close of 88.39. The loonie may face support around the
86.00 mark.
Looking ahead, the Fed announces its decision on interest rate
at 2:00 pm ET. Economists widely expect the federal funds rate to
be kept at 0-0.25 percent.
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