Affiliate Disclosure
Affiliate Disclosure adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

Forex Today: Canadian Inflation Undershoots

 Following accelerating British inflation data at a new 41 year high, Canadian CPI comes in slightly lower than expected.

    1. Canadian CPI (inflation) data came in yesterday at a month on month increase of 0.7%, when 0.8% had been expected. This will be a little encouraging for north America after US inflation lessened earlier this month. Earlier, British inflation accelerated to a new 41-year high level, meeting the most pessimistic forecasts. The news very slightly strengthened the USD/CAD currency pair, but by nothing unusual.
    2. Comments by FOMC members suggest that the Fed is still on track to raise rates to 5% in 2023, as had been expected before the positive US inflation data.
    3. In the Forex market, the Euro is showing the greatest medium-term strength. Weakness is harder to determine, as markets are not moving by much right now.
    4. US retail sales data came in stronger than expected, showing a monthly increase of 1.3% when only 1.0% was expected.
    5. It has now been confirmed that the Republicans have won control of the US House of Representatives by a narrow majority. This is typically positive for stock markets when it happens in midterm elections.
    6. Australian unemployment data came in better than expected, with the unemployment rate falling from 3.5% to 3.4%.
    7. Daily new global coronavirus cases dropped last week, continuing a downwards trend which began last July.
    8. It is estimated that 68.2% of the world’s population has received at least one dose of a coronavirus vaccination.  
    9. Total confirmed new coronavirus cases worldwide stand at over 641.5 million with an average case fatality rate of 1.03%.  
    10. The rate of new coronavirus infections appears to now be significantly increasing only in Tuvalu and China.  
    Adam Lemon
    About Adam Lemon

    Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.

    Most Visited Forex Broker Reviews