Will the inflation data support the CAD?

Will the inflation data support the CAD?

Canada will release the monthly consumer price index (CPI) on February 27 at 15:30 MT time.

Last month the level of consumer price index declined by 0.1%. However, it still was higher than the forecast. As a result, the CAD didn't suffer that much. This time the higher-than-expected level will be appreciated by the market again.

• In case CPI outperforms the forecast, the CAD will rise.

• In case CPI comes out lower, than the forecast, the CAD will fall.

Check the economic calendar

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The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong. 

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