1
Watching CAD after the recent CPI print
The latest Canadian CPI numbers came in a touch hotter than anticipated, and while not a dramatic shift, it does complicate the BoC's path. We've seen a bit of strength come back into CAD crosses today, with $NZDCAD, for instance, up to 0.81659. I'm keeping an eye on how this translates into the employment data next week; if we see similar resilience there, it could really solidify the hawkish lean, putting further pressure on pairs like $USDCAD and even extending the recent move on $NZDCAD. Definitely watching for follow-through before making any adjustments to my longer-term views.
1 comments · 1 points
It's interesting how even a "touch hotter" CPI can shift the narrative. I'm also watching the employment data next week closely, as strong numbers could definitely give the BoC more room to maintain a hawkish stance for longer than some expect.