FXstreet.com (Barcelona) - TD Securities expect the CPI inflation report in Canada to rebound by +0.3% in August after three consecutive monthly declines, as expected by market consensus. The rise should reflect higher gasoline prices and a modest effect from higher food prices. Core data is expected to rise by +0.2% (MoM), less than the +0.3% consensus.
“The CPI print is the first, and only notable Canadian release this week, and a soft figure should not only reinforce the tepid domestic activity heading into the second half of the year, but also play into the broader theme of soft activity globally”, wrote analyst Alvin Pontoh, expecting a modest lift to USD/CAD.
“The CPI print is the first, and only notable Canadian release this week, and a soft figure should not only reinforce the tepid domestic activity heading into the second half of the year, but also play into the broader theme of soft activity globally”, wrote analyst Alvin Pontoh, expecting a modest lift to USD/CAD.
