Forex Analysis by Matthew Weller covering: US Dollar Canadian Dollar. Read Matthew Weller's latest article on Investing.com
US inflation is showing signs of stalling as it approaches the Fed’s 2% target, while Canadian price pressures are already well within the BOC’s 1-3% target range.
While it did fall on a headline basis, the US CPI report still came in above the Fed’s target at 2.4%, with Core CPI outright rising to 3.3% y/y. In contrast, last month’s Canadian CPI report missed expectations, falling to 2.0% y/y flat, with the more stable “Trimmed Mean” measure falling toward 2.4%.
Today morning, traders will see the latest jobs report out of Canada, with traders and economists expecting the country to add nearly 30K jobs and the unemployment rate to tick up to 6.7%.
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