Canada's economy revealed on Friday its consumer price index for January, where CPI rose by 0.4 percent last month, comapred to the prior estimate of -0.6 percent, better than the the consensus of 0.3 percent. CPI gained 2.5 percent in the year ended January, from the priorand expected estimates of 2.3 percent.

The Bank of Canada said Core CPI, which excludes food and energy prices, rose 0.2 percent last month, after falling 0.5 percent in the prior month and above median estimates of 0.1 percent. Core CPI rose 2.1 percent in the year ended January, topping both the prior and expected estimates of 1.9 percent.

Canada's dollar rose against its U.S counterpart after the news, where the USD/CAD fell to reach an intraday of $0.9950 as of 14:09 GMT.