Canada: Industrial Product Price Index rises by 2% in January

Raw Materials Price Index in Canada rose sharply in January.
USD/CAD continues to trade in the positive territory.

Eren Sengezer FXStreet

Prices for products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), rose by 2% in January, the data published by Statistics Canada showed on Friday. This reading followed December's increase of 1.5%.

Further details of the publication revealed that the Raw Materials Price Index increased by 5.7% during the same period.

Market reaction

The USD/CAD pair edged slightly lower from the daily highs after this report and was last seen gaining 0.26% on the day at 1.2632.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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