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Canadian CPI for February came in below expectations across headline and core measures, with the BoC's core gauges falling to about 3.1-3.2%. Front-end Canadian yields dropped around 10 basis points and USD/CAD rose about 30 pips.
Softer inflation raises expectations of earlier BoC rate cuts, narrowing yield support for the loonie and lifting USD/CAD. The move is a currency and rates story with no direct feed-grain price implication.
continuumeconomics.comAdrian SchmidtMar 19, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
