-
Canadian Dollar Pressured By Inflation Undershoot
The Canadian Dollar extended a streak of underperformance following the release of inflation data which underscored market expectations that the next move at the Bank of Canada will be a rate cut. Canadian headline CPI inflation rose 3.1% year-on-year in October, said Statistics Canada, undershooting the 3.2% expected by the consensus and representing a material slowdown on September's 3.8%. The Canadian Dollar has lost ground against all its peers when screened over the course of the past week and month, underscoring an idiosyncratic underperformance, which won't be overturned by these data. The Pound to Canadian ... (full story)