Daily digest market movers: USD/CAD keeps trading back and forth, awaiting US CPI data
- Canadian Dollar pares gains with risk appetite fading as investors prepare for Wednesday’s US CPI release.
- US headline inflation is expected to have increased by 0.3% and 3.4% from a 0.4% monthly increment and a 3.2% annual reading in February.
- Core CPI is seen easing to 0.3% in March, from 0.4% in February, with the yearly rate cooling from 3.8% to 3.7%.
- Also on Wednesday, the BoC is expected to leave its benchmark index unchanged at 5%. The main interest will be on any hints toward the timing of the first rate cut.
- Later on Wednesday, Fed Bowman is expected to meet the press. She is a notorious hawk, and last Friday she warned about the likelihood of another rate hike.
- The release of the minutes of the last Fed meeting will close an eventful calendar on Wednesday. In the context of a recent CPI release, Fed policymakers’ comments might have an additional impact on USD crosses.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
If you like, reward to support.
Hot
No comment on record. Start new comment.