Canada reported a drop of 0.2% in prices m/m in October, worse than 0.1% expected. Core CPI rose by only 0.2%, worse than 0.3% predicted. Year over year, headline CPI is at 1%, worse than 1.1% predicted and only Core CPI y/y came out at 2.1% as expected.
USD/CAD climbed above 1.31 in the immediate aftermath. Update: the move is extending with Dollar/CAD rising above 1.3122. Resistance awaits at 1.3160. It is important to note that the US dollar is now raging across the board.
Read the rest of the article Canadian inflation falls – CAD follows