Canadian Dollar Rebounds Ahead of US Inflation Data
• USD/CAD rebounds from a 5-day losing streak ahead of US inflation data, trading around 1.3460 • US CPI inflation for January expected to ease to 2.9% YoY from 3.4% prior • Upbeat WTI crude oil price near $77/barrel provides support for the Canadian Dollar • Lack of high-impact data from Canada this week, housing starts and wholesale sales eyed • USD/CAD remains sensitive to shifts in market caution and yield differentials ahead of US CPI