Following the Bank of Canada decision, CAD strengthened against major currencies. However, there are still many risks of economic slowdowns.

The NZD has been the weakest currency against the US dollar due to its strong fall on March 23rd. Identifying the factors that contributed to its sharp decline in March will help to understand whether the pair will continue to rise or not.

The Core CPI is influenced not only by consumer activity within the United States but also by the price growth of imported goods from China. Both of these factors will cause inflation to rise in the short term.