Canadian CPI report highlights:
- Prior was +1.9% y/y
- m/m CPI +0.4% vs +0.4% expected
Core measures y/y:
- Median 1.9% vs 2.0% expected
- Common 1.8% vs 1.8% expected
- Trim 2.0% vs 2.1% expected
The numbers are a bit of the soft side but were a tad strong last month so it levels out. I don't see the market doing much with these numbers but the initial reaction is for a bit of CAD weakness.