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USDCAD bounces after softer CPI data but they have work to do.
Canada’s September CPI report gave traders a little something on both sides of the inflation debate. Headline inflation rose to 3.1% year over year from 3.0% in August, but came in below expectations of 3.2%. Meanwhile, inflation excluding gasoline slowed to 2.2% from 2.4%. Energy remains the problem area. Gasoline prices increased 27.8% from a year earlier, while fuel oil and other fuels surged 57.8%, with a greater impact on households in Atlantic Canada. Shelter inflation also accelerated, although rent growth held steady and mortgage interest costs continued to decline. <
Latest closeGasoline (RBOB) $3.156 ▼2.4%
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