# CAD drops despite jump in headline inflation | XTB

> Canadian October CPI rose to 2.4 percent year on year against a 2.2 percent forecast, but core inflation measures were unchanged and core retail sales missed. USDCAD initially fell about 50 pips before reversing higher.

- Date: 2018-11-23 · published 2018-11-23T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/62278-cad-drops-despite-jump-in-headline-inflation-xtb
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Headline inflation alone does not change Bank of Canada expectations, so the loonie's direction stays tied to oil and US rate outlook. The move has little direct effect on feed commodity prices.

## Read by commodity

- USDCAD: bullish ▲

## Sources

- xtb.com: https://www.xtb.com/en/market-analysis/cad-drops-despite-jump-in-headline-inflation

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.