BREAKING: USDCAD jumps after Canadian core inflation accelerates

Canadian CPI inflation data for October was released today at 1:30 pm GMT. Market expected headline price growth to remain unchanged at 6.9% YoY and actual data matched this expectations. However, a noticeable beat was reported when it comes to core inflation with gauge accelerating from 5.9 to 6.2% YoY, in spite of an expected deceleration to 5.9% YoY.

Release showed consumer price growth in the Canadian economy remaining at elevated levels, giving the Bank of Canada reasons to continue to tighten policy. BoC has raised rates by a cumulative 350 basis points since March - the most aggressive tightening cycle in Bank's history.

Headline

Year-over-year: 6.9% YoY vs 6.9% YoY expected (6.9% YoY previously)
Month-over-month: 0.7% MoM vs 0.8% MoM expected (0.1% MoM previously)

Core

Year-over-year: 6.2% YoY vs 5.9% YoY expected (6.0% YoY previously)

CAD saw some reaction to the data with USDCAD jumping around 0.3% in a knee-jerk move. However, it should be noted that the move was driven mostly by better-than-expected US retail sales data that was released simultaneously.

While USDCAD jumped in a knee-jerk move following US retail sales and Canadian CPI data, overall technical picture for the pair remains unchanged - pair continues to realize downside breakout from a head and shoulders pattern with textbook range pointing to a drop to 1.3060. Source: xStation5

16 October 2026, 2:30 PM

Strong US macro data 🗽 Industrial production and prices rise

16 October 2026, 9:27 AM

Chart of the Day: NATGAS - Are there chances for a seasonal rebound amid warm weather?

16 October 2026, 7:11 AM

Economic Calendar - Final Eurozone CPI Inflation, US Manufacturing, and Regional Bank Earnings

16 October 2026, 6:48 AM

Morning Briefing: Warsh's silence on interest rates. AI debt fears cooled sentiment, but a rebound is visible

Economic reports

Prefer XTB on Google

Cookie name	Description
SERVERID
userBranchSymbol	Expiration date 1 day
test_cookie	Expiration date 1 hour
adobe_unique_id	Expiration date 364 days
__hssc	Expiration date 1 hour
SESSID	Expiration date 1 day
__cf_bm	Expiration date 1 hour
intercom-id-iojaybix	Expiration date 270 days
intercom-session-iojaybix	Expiration date 6 days
xtbCookiesSettings	Expiration date 364 days
TS5b68a4e1027
countryIsoCode
xtbLanguageSettings	Expiration date 364 days
userPreviousBranchSymbol	Expiration date 364 days
intercom-device-id-iojaybix	Expiration date 270 days
__cfruid
_cfuvid

Cookie name	Description
_gid	Expiration date 1 day
_gat_UA-98728395-1	Expiration date 1 hour
_gat_UA-121192761-1	Expiration date 1 hour
_gcl_au	Expiration date 89 days
_ga_CBPL72L2EC	Expiration date 729 days
_ga	Expiration date 729 days
__hstc	Expiration date 179 days
__hssrc
_vwo_uuid_v2	Expiration date 365 days
_ga_TC79BEJ20L	Expiration date 729 days
_vwo_uuid	Expiration date 365 days
_vwo_ds	Expiration date 29 days
_vwo_sn	Expiration date 1 hour
_vis_opt_s	Expiration date 99 days
_vis_opt_test_cookie
af_id	Expiration date 394 days
afUserId	Expiration date 730 days
AF_SYNC	Expiration date 6 days
AnalyticsSyncHistory	Expiration date 29 days

Cookie name	Description
MUID	Expiration date 389 days
_omappvp	Expiration date 3998 days
_omappvs	Expiration date 1 hour
_uetsid	Expiration date 1 day
_uetvid	Expiration date 389 days
_fbp	Expiration date 89 days
fr	Expiration date 89 days
_ttp	Expiration date 89 days
_tt_enable_cookie	Expiration date 89 days
hubspotutk	Expiration date 179 days
IDE	Expiration date 389 days
YSC
VISITOR_INFO1_LIVE	Expiration date 179 days
li_sugr	Expiration date 89 days
guest_id_marketing	Expiration date 729 days
guest_id_ads	Expiration date 729 days
guest_id	Expiration date 729 days
muc_ads	Expiration date 729 days
VISITOR_PRIVACY_METADATA	Expiration date 179 days
MSPTC	Expiration date 389 days

Cookie name	Description
bcookie	Expiration date 364 days
lidc	Expiration date 1 day
UserMatchHistory	Expiration date 29 days
bscookie	Expiration date 364 days
li_gc	Expiration date 179 days
personalization_id	Expiration date 729 days