YoY 1.5% vs 1.6% est. Core YoY 2.1% vs. 2.1%
Canada CPI NSA for the month of May came in at 0.4% vs 0.5% estimate. The YoY came in at 1.5% vs. 1.6% est and 1.7% last month. So each was 0.1% weaker than expectations.
the USDCAD has moved higher (about 20 pips from low to high) in
reaction to the 8:30 AM numbers. The pair was pushing to new session
lows before the numbers ( US Building permits and Housing starts were
mixed with revisions). In the fall, the price fell below the 100 hour
MA at 1.2885 level which may have contributed to stops being triggered.
It was the first fall below the level this week (last time below was on
Friday. The pair is trading right at the level now (after moving above
on the data).