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fxJun 22, 2026, 11:34 AM

Canadian Dollar Weakens Ahead of May CPI Data

The Canadian Dollar is trading lower against major peers on Monday, as markets await May Consumer Price Index data due at 12:30 GMT.

USDCAD

The Canadian Dollar (CAD) is underperforming against its major counterparts during the European session on Monday. Investors are positioning ahead of the release of Canada's Consumer Price Index (CPI) for May, scheduled for 12:30 GMT.

Market focus is on whether inflation data will reinforce expectations for the Bank of Canada's next policy moves. Weaker CAD suggests traders are pricing in a softer inflation reading or dovish central bank sentiment.

Source: FXStreet Forex News