Core CPI m/m comes in at 0.3% against 0.2% consensus

Core CPI month over month for the United States was released at 0.3% for October 2026. This figure came in above the consensus expectation of 0.2%. The previous month’s reading was also 0.3%. The surprise against consensus was 67.4%.

Following the release, the US Dollar strengthened against major currencies. AUDUSD fell 46 pips one hour after the release. EURUSD declined by 69 pips, and GBPUSD dropped 73 pips. NZDUSD was down 33 pips. Conversely, USDCAD rose 61 pips, USDCHF gained 48 pips, and USDJPY increased by 43 pips. Gold, XAUUSD, fell 647 pips. These moves generally exceeded the median 1-hour moves observed after past Core CPI releases. For example, EURUSD’s 69-pip drop was significantly larger than its median 1-hour move of 21 pips, and also above the top-quarter threshold of 39 pips. Similarly, GBPUSD’s 73-pip decline surpassed its median of 22 pips and top-quarter threshold of 42 pips. USDCAD’s 61-pip rise was well above its median of 15 pips and top-quarter threshold of 28 pips. XAUUSD’s 647-pip fall was also substantially larger than its median 1-hour move of 52 pips and top-quarter threshold of 108 pips.