CAD strength today and how it factors into the next CPI print
Watching $CADUSD today, that 0.51% jump is interesting, especially with it pushing the daily high to 0.72103. Been thinking a lot about the upcoming CPI data next week and how a stronger CAD might influence the BoC's outlook. On one hand, a stronger currency could help temper imported inflation, but then you've got oil still a wild card. Just curious to see if this CAD move is seen as a durable trend or more of a short-term bounce. How are others weighing this against their own expectations for Canadian inflation?
Still trying to connect the dots on how this might filter down to sector plays. Nothing concrete on $ROSE, but generally, I'm watching industrials and materials closely if the BoC narrative starts to shift from aggressive tightening.