The annual inflation rate in Canada rose to 4.7% in October from 4.4% in September and compared to market forecasts of 4.6%, with base effects from last year still weighing. It was the highest inflation rate since 2003.
On a monthly basis, the CPI rose to 0.7% in October, from 0.2% in the previous month, in line with market forecasts.
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USDCAD is testing upper limit of the triangle formation, should break higher occur upward move may accelerate towards resistance level at 1.2600. Source:xStation5
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