Analysts at TD are in line with the market consensus for Canada’s March headline CPI inflation to cool to 1.8% y/y from 2.0% in March, reflecting a 0.4% monthly increase in consumer prices.
“Energy prices are expected to rise modestly but decelerate on a y/y basis, while downside risk is eyed for food and vehicle prices. We expect the core metrics to be stable to modestly higher, in line with the past improvement in the output gap.”
“US: Existing home sales are expected to rebound 2.2% to a 5.6m annual rate in March, partially reversing its previous dip. Fed President Kashkari (voter) is the lone Fed speaker and is scheduled to participate in a Q&A session at 9:30am EST.”