Source: ForexYard
Reports out this afternoon on the Canadian consumer price index (CPI) revealed an economy which may be experiencing a modest boom in growth. The figures revealed better than forecast numbers, helping the Canadian dollar (CAD) gain in today’s end-of-week trading.
The core reading of Canada’s CPI posted a 0.5% growth, beating expectations for a meager 0.2% expansion. The nominal figure also rose 0.2%, above what economists were forecasting to be a 0.1% growth. The numbers paint an economy better off than last quarter and holiday shopping may be playing a large part in this overall picture.
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