Canada September CPI 1.6% vs 1.8% expected

• Prior was 2.0%

• CPI m/m -0.4 vs -0.2% expected
• Prior m/m +0.4%

Core measures

• CPI Bank of Canada core y/y 1.6% vs 1.5% prior
• CPI Bank of Canada core m/m 0.0% versus -0.1% prior
• Core CPI m/m SA +0.1% vs +0.1% prior (revised to +0.2%)
• Median 2.3% versus 2.3% prior
• Trim 2.4% versus 2.5% prior
• Common 2.1% versus 2.0% prior

This really firms up the case for the Bank of Canada to cut by 50 basis points on October 23. USD/CAD is at the highs of the day and on track for a tenth straight day of gains.

This article was written by Adam Button at www.forexlive.com.