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May 19 - 08:55 AM

USD/CAD - Closer To 1.21 Than 1.20 Before Canada CPI Data

By Rob Howard  —  May 19 - 06:48 AM
  • USD/CAD pushed recovery envelope from 1.2014 to 1.2093 during European am

  • 1.2014 was Tuesday's six-year low. 1.2093 = highest level since Monday

  • Canada Apr CPI data due 1230GMT, +3.2% YY f/c vs +2.2% in Mar nL2N2N50PY

  • USD/CAD might extend north through 1.21 if CPI number comes in below f/c

  • Canada's rebound to outweigh risks BoC sees in strong CAD nL2N2N41YJ

  • Canadian exporters rejig currency hedges as commodities boom nL1N2N125H

USDCAD Click here

Source:
Refinitiv IFR Research/Market Commentary

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