• Annual inflation in Canada held steady at 6.9% in October as expected.
• USDCAD continues to trade at around the mid-1.3200s.

Inflation in Canada, as measured by the Consumer Price Index (CPI), stayed unchanged at 6.9% on a yearly basis in October, Statistics Canada announced on Wednesday. This reading came in line with the market expectation.

Meanwhile, the Bank of Canada's annual Core CPI, which excludes volatile food and energy prices, declined to 5.8% from 6% in September, compared to analysts' estimate of 6.3%.

Market reaction

USDCAD pair showed no immediate reaction to this data and USDCAD was last seen losing 0.2% on a daily basis at 1.3250.