
The American CPI is announced on Wednesday at 15:30 MT time.
The Canadian year-on-year inflation rate will be released at 15:30 MT time on November 20.
The October release of the year-on-year inflation rate was 1.9%. That was below the expected 2.1%. November 20 offers a similar possibility: the forecast is the same 2.1%. If the rate is again 1.9%, that would be the third month in a row of the inflation showing no move in either direction. The analysts advise that the Canadian economy has been on a steady growth course in general, with certain internal weaknesses though. The worse-than-expected jobs data referencing the October employment dynamics may have a negative impact on the inflation rate through lower industrial activity. However, if the announced rate exceeds the market expectation, that should appreciate the Canadian dollar.
The American CPI is announced on Wednesday at 15:30 MT time.
US stocks and oil slipped as Donald Trump threatened not to sign a long-awaited stimulus bill into law. The market sentiment had been already fragile, and Trump’s comments worsened it even more.
Canada's retail sales will be out on Friday at 15:30 MT time.
Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
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