Now: Canada CPI in Eyes of Traders
After the rise of the interest rate by Bank of Canada last week, which is the biggest hike in two decades, attention is now given to the Canada CPI figure.
According to analyst from TD Securities, the energy market will be the main driven to the movement of the inflation rate as there is 11% increase in the gasoline price. The second largest contributor is the food price. The figure for CPI will be closely followed by all market participant as it will become the main key point for further interest rate hike in the future.
On the other hand, greenback rose at the end of the weekend as the hawkish comment from the Fed official has strengthened expectation on the more advance tightening policy. The current macro economy data also support this notion as inflation rate keep rising beyond the expectation figure.
18 April 2022