- Canadian Dollar pares gains with risk appetite fading as investors prepare for Wednesday’s US CPI release.
- US headline inflation is expected to have increased by 0.3% and 3.4% from a 0.4% monthly increment and a 3.2% annual reading in February.
- Core CPI is seen easing to 0.3% in March, from 0.4% in February, with the yearly rate cooling from 3.8% to 3.7%.
- Also on Wednesday, the BoC is expected to leave its benchmark index unchanged at 5%. The main interest will be on any hints toward the timing of the first rate cut.
- Later on Wednesday, Fed Bowman is expected to meet the press. She is a notorious hawk, and last Friday she warned about the likelihood of another rate hike.
- The release of the minutes of the last Fed meeting will close an eventful calendar on Wednesday. In the context of a recent CPI release, Fed policymakers’ comments might have an additional impact on USD crosses.
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