USD/CAD: Sticky inflation data may help firm up the Loonie a little – Scotiabank

The CAD is softer against the generally stronger USD. Economists at Scotiabank analyze the pair’s outlook.

CPI data ahead

December Consumer Price Index (CPI) report is expected to reflect a 0.3% gain in headline prices in the month and nudge up to 3.4% (from 3.1% in November). Core measures of inflation are expected to drop a tenth in YoY terms from November’s 3.5% (Trim) and 3.4% (Median). 

Sticky inflation data may help firm up the CAD a little.

See – Canada CPI Preview: Forecasts from five major banks, inflation likely ticked up in December