Statistics Canada is set to release its latest inflation data tracked by the Consumer Price Index (CPI) for the month of September on Tuesday.
The Canadian Consumer Price Index is expected to rise 1.8% YoY in September. The Bank of Canada has reduced its policy rate by 75 bps so far this year. The Canadian Dollar has been losing considerable ground in October. Statistics Canada is set to release its latest inflation data tracked by the Consumer Price Index for the month of September on Tuesday. Forecasts suggest that the headline CPI could have risen 1.8% year-over-year last month.
3800 on Monday. The monthly advance has so far been on the back of a strong rebound in the US Dollar , which has been keeping the broad risk-linked currencies on the back foot. Pablo Piovano, Senior Analyst at FXStreet, points out that the continuation of the recovery could well see USD/CAD challenging its 2024 top of 1.3946 , just ahead of the 1.4000 milestone, an area last visited in May 2020.
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