Canadian CPI and retail sales are coming up

Canadian data on the docket

USD/CAD is a quarter-cent lower on the day to 1.2646 but the drama has just begun.

At the bottom of the hour, we will get February retail sales and March CPI. For retail sales, focus on ex-autos, which are forecast to rise 0.4%.

Both reports could be market movers but the inflation data moreso. CPI is expected up 2.4% y/y but the BOC’s three core measures: common, median and trim will be in focus.

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