Canada CPI inflation for October 0.4% versus 0.3% MoM

• Prior month -0.4%
• CPI MoM 0.4% versus 0.3% estimate
• Core CPI M 0.3% versus 0.1% last monthoM
• CPI YoY 2.0% versus 1.9% YoY . Prior month or .6%
• CPI Median 2.5% versus 2.4% estimate. Last month 2.3%
• CPI Trim 2.6% versus 2.4% estimate. Last month 2.4%
• CPI Common 2.2% versus 2.1% last month
• CPI BOC Core YoY 1.7% versus 16% last month
• CPI BOC Core MoM 0.4% versus 0.0% last month

The pricing for BOC sees 50 bp cut areound 20% vs 38% before the release as the market reacts negatively to the higher inflation numbers.

The USDCAD has move down to test the 200 hour moving average at 1.39755. Also near that level is the old high price from 2022 at 1.39785. The price has found support buyers near that level and currently trades at 1.39859.

This article was written by Greg Michalowski at www.forexlive.com.