The Canadian Dollar weakened against the Greenback on Friday, as the reports showed some cooling in the country’s consumer inflation. The USD/CAD currency pair strengthened 35 base points or 0.27% to touch the intraday high in the 1.2820 area, but managed to save the gain only partially, entering the Monday session at the 1.2780 mark.
Statistics Canada reported that the country’s Consumer Price Index declined to an annual 1.4% in September from a 1.6% increase registered in the previous month. The annual inflation growth weakened amid lower energy prices, widening distance from the 2% target and giving the Bank of Canada chance to wait until the next year for the better conditions allowing to make the next interest rate hike.
