The Canadian dollar steadied around 1.40 per USD, holding to its rebound from the seven-month low of 1.412 on November 6th as markets weighed persistent price pressures against a firm labor market. The trimmed-mean core inflation rate, the BoC's preferred gauge of underlying inflation, eased to 3% in October but remained close to last month’s peak since February 2024. The data reinforced expectations that the Bank of Canada likely concluded its rate-cutting cycle at the previous meeting, as policymakers indicated if their base case holds, with the economy showing resilience to US tariffs and core inflation measures still above target. Earlier, the unemployment rate fell to 6.9% in October from the four-year high of 7.1% in September, supported by a sharp employment gain and fewer jobseekers. Wage growth also accelerated to an eight-month high of 4%, outpacing the latest inflation readings.