CAD CPI

In the evening, we have the monthly CAD CPI data to be released.
There is a forecast for data to be released at 0.4%, from the previous of -0.4%.
The USDCAD has been climbing up, currently trying to break above 1.2720.
If CPI data is released to be 0.4% or better, we could see a strengthening of the USDCAD (but this would be a counter trend trade)

I’ll be looking if CPI data disappoints, resulting in a weaker CAD, giving the USDCAD a boost above 1.2700 towards 1.2900.

Order cancelled:

data released at 0.7%

stronger CAD expected, counter trend trade