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Data from Bank of Canada. Forecasts by Sigmanomics Forecast Engine.
CanadaCanada Bank of Canada Consumer Price Index Core YoY fell to 1.1% in May 2013
Bank of CanadaMonthlyReleased May 2013
Canada Bank of Canada Consumer Price Index Core YoY fell to 1.1% in May 2013, down 0.3% from April's 1.4% reading. The reading missed the 1.2% consensus by 0.1%.
Latest Release
1.1
Actual
1.2
Consensus
1.4
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| USD/CAD | ▼ Inverse | −0.50 | FOREX | Bullish CAD | → View |
| CAD/JPY | ▲ Direct | +0.45 | FOREX | Bullish CAD | → View |
| WTI Crude | ▲ Direct | +0.40 | COMMODITIES | Watch | → View |
| EUR/CAD | ▼ Inverse | −0.35 | FOREX | Bullish CAD | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Bank of Canada Consumer Price Index Core YoY (Canada) was reported at 1.1% in May 2013. This missed the market consensus of 1.2% by 0.1%. The reading fell from the previous value of 1.4%.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/CAD (Bullish CAD). A secondary relationship exists with CAD/JPY, positively correlated (Bullish CAD).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Current Account (May 28) and Financial Stability Report (May 28).
Auto-generated from current model state · Refreshes on each release · Last update May 2013.
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Bank of Canada Consumer Price Index Core YoY - CA
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About Bank of Canada Consumer Price Index Core YoY — Canada
DEFINITION
The Bank of Canada Consumer Price Index Core YoY is a widely recognized financial indicator that measures the annual change in the prices of goods and services purchased by Canadian consumers. It excludes volatile items such as food and energy, providing a more accurate representation of underlying inflation trends. This indicator is closely monitored by economists and policymakers as it reflects the overall health of the Canadian economy and can influence monetary policy decisions.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (May 2013): actual 1.1 %, consensus 1.2 %.
WHAT'S NEXT
This indicator correlates most strongly with USD/CAD (Bullish CAD, r=-0.50) — a useful reference for forex-focused traders.