Canadian Dollar Faces Data and Tariff Risks, TD Securities Says
TD Securities expects Canadian headline CPI at 2.9% year-on-year for July and core at 1.85%, while flagging potential US Section 338 tariffs on Canadian exports as a key risk for the loonie.
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Markets are focusing on Canadian inflation data and possible US Section 338 tariffs on Canadian exports, according to TD Securities analysts Robert Both and Emma Lawrence.
Their forecasts point to headline CPI at 2.9% year-on-year in July, with core CPI at 1.85%; they also look for retail sales to be flat.
The combination of domestic data and trade-policy risk leaves the Canadian dollar sensitive to both the CPI release and any tariff developments.
Source: FXStreet Forex News