Forex Flash: Canada CPI providing comfort to the BoC ahead of US “fiscal cliff” – TD Securities

FXstreet.com (Barcelona) - The North American session will be empty in terms of economic calendar with the exception of the Canadian CPI for October: "Core CPI is expected to remain unchanged from Sept at 1.3% Y/Y, after which we think it will drift higher into the end of the year and through 2013"; wrote analyst Tim Davis, expecting an unchanged headline figure at 1.0% (YoY) as in September. "As we stand now, core CPI is currently tracking about 1.4% for Q4, undershooting the Bank of Canada's 1.6% forecast, and providing the Bank with the comfort it needs to monitor the evolution of conditions in the global economy heading into the resolution of the US fiscal cliff early next year", Davis added.