Will the Canadian monthly CPI boost the CAD?

Will the Canadian monthly CPI boost the CAD?

Canadian monthly CPI is announced on Wednesday at 15:30 MT time.

Instruments to trade: USD/CAD, NZD/CAD, GBP/CAD, CAD/JPY

April’s CPI in Canada plunged to -0.2% in April after a step down to 0.9% the month before. Before, an average of 2% was a commonly expected price level. Now, all hopes are on the May release: observers are looking for signs of recovery in the Canadian economy, and the increase in the level of prices would indicate that things are improving. The market will be careful with setting its estimates for the coming release hence even a slight difference into the positive zone will make this indicator boost the CAD in the short-term.

  • If the CPI shows improvements, the CAD will rise.
  • If the CPI is depressive, the CAD will fall.

Check the economic calendar

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How to trade ahead and after BOC report?
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The Canadian central bank will make a monetary policy report and announce interest rates on Wednesday, January 20, at 17:00 MT time. Also, the BOC press conference will be held later.

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