- Prior reading was +1.5% y/y
- Core CPI +1.7% vs +2.0% y/y exp
- Monthly decline -0.1% vs +0.2% exp
- Full report
Weaker across the board and USD/CAD runs into resistance at 0.9900, where ACB offers (and others) lurk.
There was a deceleration in every major component except food. Combined with the soft employment report, USD/CAD will have a difficult time breaking below 0.9800 and better value will likely be found in buying closer to that number.
