The USD/CAD pair is trading little changed. Scotiabank economists analyze the pair's outlook.
CAD could receive some support if inflation pressures remain elevated
Canada releases CPI data on Tuesday. They are expected to reflect a rebound in overall prices and persistent underlying inflation. On the other hand, the minutes of the BoC's latest decision on Wednesday could highlight policymakers' concerns about the slow progress on disinflation.
The CAD could find some support if inflationary pressures remain elevated (but could also pull back, all things being equal, if Friday's retail sales data is weak, as anticipated by the consensus estimate).
The USD bullish trend persists at face value, but gains have flattened since the middle of last week, with the USD firmly capped at 1.3550.
Support is at 1.3510 and, stronger, at 1.3485 on the intraday chart.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
