This post was originally published on this site.The USDCHF moved lower during the European session after Swiss inflation came in stronger than expected. October CPI rose 0.2% versus an unchanged reading expected, while annual inflation increased to 1.5% from 1.0%, above the 1.3% forecast. The firmer data supported the CHF and gave USDCHF sellers another push to the downside. However, the sellers ran into a key technical target. The falling price reached the rising 100 day moving average near 0.81563, just above a swing area between 0.81383 and 0.81513. Buyers leaned against that support and stalled the fall. Sellers had...

This post was originally published on this site.From Bank of Canada Governor Tiff Macklem: There could be a need to raise the policy rate further Will proceed carefully given uncertainties Decisions will be taken one meeting at a time Outlook for inflation has deteriorated Hike needed to reduce risk elevated energy prices become generalized inflation Less scope for monetary accommodation Cost pass-through expected to increase over the next year Growth outlook has improved modestly despite US trade actions Growth likely to slow in Q4 as new US tariffs weigh CPI seen rising to about 3.5% by year-end Inflation to stay...