The Canadian CPI report is first up on the North American calendar today. It comes at a critical time for the Bank of Canada, as the market is pricing in a 37% chance of a cut on July 30. There will still be one more inflation report before the decision but today's data could swing the odds.
As for the US calendar, it's heavy with Fed speakers in including Powell (10 am ET), Williams (1230 pm ET), Kashkari (1:45 pm ET), Collins (2:05 pm ET), Barr (4 pm ET) and Schmid (8:15 pm ET). I wouldn't except any dovish surprises from the first four names on that list but Schmid will be interesting.
The Fed chair will be under pressure to drop a dovish hint but I struggle to see how he would pivot so quickly after the FOMC. He's also a skilled communicator and unlikely to slip up. That said, sometimes the market hears what it wants to hear and even the slightest crack in the door to a July cut might get the market excited.
This article was written by Adam Button at www.forexlive.com.Hence then, the article about canadian inflation data kicks offf the north american calendar was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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