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The central bank is expected to lower interest rates as scheduled + end Algo tightening, releasing calculations on the impact of Trump tariffs.
① The Bank of Canada has cut interest rates for the sixth consecutive time as scheduled, announcing the end of Algo tightening; ② Given the tightening of immigration policies in Canada, the central bank has lowered its economic growth expectations for the next two years; ③ However, the greater uncertainty will be the impact of the 'Trump tariffs.'
Canadian Retail Sales Look to Have Jumped in December -- Market Talk
CIBC Comments on Retail Sales Data in Canada
The expectation of interest rate cuts by the Bank of Canada suppresses the Canadian Dollar, and investors are paying attention to the divergence in monetary policy.
The Canadian dollar is weakening against the U.S. dollar, as investors expect the Bank of Canada to further lower the benchmark interest rate below the Federal Reserve's key rate at next week's monetary policy meeting.
Outlook for Dollar Bullish Near Term, Bearish for Canadian Currency -- Market Talk
Canadian Customers Seen Bearing Burden of Tariffs -- Market Talk