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Fall in oil outweighs hot CPI as Canadian dollar slumps

The Bank of Canada got its final look at inflation data today ahead of the September 6 rate-setting meeting. Prices rose a surprising 0.6% in the month compared to 0.3% expected and core prices rose 0.5% m/m. That number has helped to boost the implied hike odds at the upcoming meeting to 30%, with a full hike priced in by next March. I wrote yesterday why I expect USD/CAD to rise to 1.40 and if the Bank of Canada does hike in September, it would be a big mistake that would only add to the case... Read More

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Posted: Aug 15 2023, 14:51

Author Name: forexlive

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