CAD in the balance today with CPI data coming out
On Wednesday this week the Bank of Canada did not raise interest rates and the CAD immediately sold off. It was a dovish hold as the BOC weighed up a mixed set of data.
Today, inflation data is released and this may be significant in helping set a near term direction for CAD. In the full statement released on the 18th of April ,
see here for that in full, the BOC said they were happy with inflation figures which were close to 2%.
see here for that in full, the BOC said they were happy with inflation figures which were close to 2%.
So a miss here on the CPI reading may be taken as an indication that a May rate hike is less likely and would result in CAD weakness. However, the
strong rally in Oil at the moment is helping to underpin CAD, so this needs to be factored in to the data as well as the NAFTA agreement.
Follow this link for details of timing on NAFTA. Make sure you keep juggling all the balls.
strong rally in Oil at the moment is helping to underpin CAD, so this needs to be factored in to the data as well as the NAFTA agreement.
Follow this link for details of timing on NAFTA. Make sure you keep juggling all the balls.
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