CAD: January CPI likely to rise 0.4% m/m - TDS
|Analysts at TD Securities is on consensus for Canada’s January CPI to rise 0.4% m/m (1.6% y/y) though risks are seen as tilted to the downside.
Key Quotes
“Gasoline prices should provide a strong boost and more than offset lower electricity prices. Continued weakness in food prices however lends downside risk while we also see scope for a weaker backdrop among the three new core metrics (CPI common, trimmed mean and median). Yet given the Bank of Canada’s focus on headline inflation, markets are likely to fade any further weakness in the core if accompanied by a stable or higher headline figure.”
“US: Data releases include new home sales (January) and the final reading on University of Michigan consumer sentiment (February). New home sales are expected to advance at a solid 6.3% clip to 570k units while consumer sentiment is expected to be little changed at 96.0 vs 95.7 in its preliminary print and down from 98.5 in January. No Fed speakers are scheduled.”
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