The Canadian dollar fell a bit against its US peer today, but the drop was small and is likely to be nothing more than a minor correction. The currency also continued to decline against the euro and the Japanese yen, but the decline was nowhere near yesterday’s sharp slump.
The Canadian Consumer Prices Index rose 1.1 in September (on a year-over-year basis), the same as in August. Monthly inflation accelerated to 0.2 percent after no change in August. Core CPI rose 0.2 percent in September from the prior month, when price growth was at the same rate.
There is still uncertainty about the impact of the government shutdown on the US economy. The influence was likely very negative and it is bad for Canada as the United States are its biggest trading partner.
USD/CAD was up from 1.0287 to 1.0293 as of 20:04 GMT today. EUR/CAD advanced from 1.4094 to 1.4085, while CAD/JPY retreated from 95.10 to 95.03.
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