External broker reports(aggregated public sources), Scotiabank

Scotiabank

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External broker reports(aggregated public sources)

FX & Rates

<ul><li>The CAD is ending the week slightly lower versus the USD. While this week’s data run has looked a bit soft, considering lower than expected the CPI data and today’s Retail Sales report, the broader tone of Canadian economic data continues to run a little warm— data reports are generally running a bit ahead of expectations.</li><li>And even with CPI easing a little in the September month, prices remain elevated and the risk of inflation getting stuck above target remains.</li><li>Factors driving the CAD have negatively shifted this week, however; correlations across a range of variables are strengthening but remain below statistically significant levels. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

The CAD is ending the week slightly lower versus the USD. While this week’s data run has looked a bit soft, considering lower than expected the CPI data and today’s Retail Sales report, the broader tone of Canadian economic data continues to run a little warm— data reports are generally running a bit ahead of expectations.And even with CPI easing a little in the September month, prices remain elevated and the risk of inflation getting stuck above target remains.Factors driving the CAD have negatively shifted this week, however; correlations across a range of variables are strengthening but remain below statistically significant levels. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

CAD Weekly Outlook - CAD Tone Remains Soft, Focus Turns to BoC