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Data from Bank of Canada. Forecasts by Sigmanomics Forecast Engine.
CanadaCanada Bank of Canada Core Inflation MoM fell to 0.2% in April 2013
Bank of CanadaMonthlyReleased April 2013
Canada Bank of Canada Core Inflation MoM fell to 0.2% in April 2013, down 0.5% from March's 0.7% reading. The print came in cooler than the 0.3% consensus, a softer print than forecasters anticipated.
Latest Release
0.2
Actual
0.3
Consensus
0.7
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 Core Inflation MoM (Canada) was reported at 0.2% in April 2013. This missed the market consensus of 0.3% by 0.1%. The reading fell from the previous value of 0.7%.
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 April 2013.
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Bank of Canada Core Inflation MoM - CA
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About Bank of Canada Core Inflation MoM — Canada
DEFINITION
The Bank of Canada Core Inflation MoM is a monthly financial indicator that measures the change in the overall price level of goods and services in Canada, excluding the volatile categories of food and energy. This indicator is closely monitored by economists and investors as it provides insight into the underlying inflation trends in the Canadian economy. A higher Core Inflation MoM may indicate potential future increases in interest rates, while a lower reading may suggest a slowing economy.
WHY THIS INDICATOR MATTERS
Inflation prints feed directly into central-bank policy expectations and real-yield calculations, and are among the most rate-sensitive releases on the calendar. 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 (Apr 2013): actual 0.2 %, consensus 0.3 %.
WHAT'S NEXT
This indicator correlates most strongly with USD/CAD (Bullish CAD, r=-0.50) — a useful reference for forex-focused traders.