Canadian Dollar is mostly flat on Friday with limited momentum.
Housing Starts in Canada since November ticked higher.
Next week: Canadian CPI inflation, US Fed rate call.
The Canadian Dollar (CAD) was mostly higher on Friday but stuck close to the day’s opening range against the US Dollar (USD) as markets shuffled in place ahead of the weekend. The University of Michigan US Consumer Sentiment Index ticked slightly lower early in the American trading session, and the highest print of Canadian Housing Starts since November sailed by without much notice from investors.
Canada brings February’s Consumer Price Index (CPI) inflation figures next week, slated for Tuesday, and markets will be quickly pivoting to face the latest rate statement from the Federal Reserve (Fed) on Wednesday. The Fed will also be updating its Dot Plot projection of interest rate expectations for the next one to five years.
Next week, the latest US Manufacturing Purchasing Managers Index (PMI) will be released on Thursday, followed by Canadian Retail Sales and the US Services PMI component on Friday. Early median market forecasts expect the US Manufacturing PMI to tick slightly lower, and Canadian Retail Sales are expected to contract.
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