• The Canadian Dollar hit the brakes on a long-run decline.
• Canada saw an acceleration of BoC CPI inflation in September.
• The halt could prove brief as CAD bulls remain elusive.

The Canadian Dollar (CAD) finally found a foothold and halt an ongoing decline against the Greenback that has seen the Loonie shed over 3% in a multi-week bear run that started last month. Despite tapping the breaks, the CAD continues to struggle amid a notable lack of a determined bounce, and USD/CAD has been left dangling in no man’s land near 1.3800.

Canadian Consumer Price Index (CPI) headline inflation figures ticked lower in September, while the Bank of Canada’s (BoC) own CPI measures ticked higher over the same period. Still, markets remain committed to expectations of a 50 bps rate trim from the Bank of Canada (BoC) later this month.