USD/CAD Advances to 1.4106 as Canada Core Inflation Slows in September

USD/CAD jumped from 1.4075 to 1.4106 after Statistics Canada reported softening core inflation metrics for September, reducing pressure on the Bank of Canada for further rate hikes. Headline annual CPI accelerated to 3.1% from 3.0% in August, missing the 3.2% consensus, while monthly CPI rose 0.1% versus 0.2% expected. The uptick was driven by gasoline inflation rising from 22.8% to 27.8%. However, core price pressures eased across the board, with CPI excluding gasoline moderating to 2.2%, CPI-trim falling to 1.8%, CPI-median to 1.9%, and CPI-common to 2.4%.