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Canadian dollar spikes on consumer inflation

Mar. 23, 2018 10:30 AM ETInvesco CurrencyShares® Canadian Dollar Trust ETF (FXC)FXCBy: Omer I., SA News Editor
  • The Loonie is surging today as core prices, which exclude energy, rose the fastest in six years, up for a 5th month to 2.03%
  • Minimum wage increases in Ontario were a contributor to consumer prices that rose 2.2%, according to Statistics Canada, but higher prices for energy, cars, and mortgage rates are the main source of inflation growth.
  • Bank of Canada may lift its interest rate hike forecast if inflation continues to rise.
  • ETFs: FXC

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