Canada: Annual inflation stayed unchanged at 1.9% in October as expected

• Inflation in Canada rose 1.9% in October as forecasted. 
• CAD recovers modestly against its rivals following the CPI readings.

Inflation, as measured by the Consumer Price Index (CPI), in Canada stayed unchanged at 1.9% annually to match September's reading and the market expectation, the data published by Statistics Canada showed on Wednesday.

On a monthly basis, the CPI rose 0.3% after falling 0.4% in September. The Bank of Canada's (BoC) core CPI, which excludes volatile food and energy prices, came in at 0.4% and 1.9% on a monthly and yearly basis, respectively.

With the initial market reaction, the USD/CAD pulled away from daily highs above the 1.33 mark and was last seen trading at 1.3290, adding 0.17% on the day.