Canada may print higher or higher price pressures in October, which could ease pressure on the Bank of Canada (BOC) to continue cutting interest rates. Our event guide for Canada’s October CPI reports suggests higher wage growth and seasonal activity could keep inflation high through the month. If this is true, the Bank of Canada – which has recently shifted its focus from aggressively seeking low inflation to “sticking the boat” on inflation – will have fewer reasons to cut interest rates later this year. Here’s why CAD/CHF and EUR/CAD look good if the Canadian dollar strengthens:
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