Canada IPPI +0.1% vs +0.4% est. RMPI 1.2% vs +0.9% est

Monthly producer prices lower. Raw Material prices higher in the current month

In February:

• Industrial Product prices rose by +0.1% vs estimate of +0.4%. However the prior month was revised higher to +0.6% from +0.4% previously reported.
• Raw Material Prices increased by 1.2% vs +0.9%. The prior month was not revises at 1.7%.

According to the Statistics Canada, the indices were impacted by higher prices for meat, fish and dairy products and primary non-ferrous metal products.

The Raw Material Price index increased by 1.2% mainly as a result of higher prices for animal and animal products.

For a look at the full report CLICK HERE.

The USDCAD has moved lower after the data. The pair fell below the Monday low and the lows from last Thursday at 1.33153. There is key support at the 1.3290-93 area where the 200 bar on the 4-hour chart AND 100 day MA are found.