Forex Markets Eye Eurozone And US Inflation, US And Canadian GDP

FX Markets Eye Eurozone and US Inflation, US and Canadian GDP

Ultimately, these are the types of data that would suggest that the Bank of Canada won’t be thinking about raising rates in the next few months; May rate hike odds have dropped from 83% to 67% in recent weeks, dragging down the Loonie in the process. The 20-day correlation between CAD/USD and May rate hike odds is currently +0.83, therefore any reaction in the Canadian Dollar will come via the rate pricing channel.

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