USD/CAD continues to trade within a tight range ahead of today's Canadian CPI print. Expectations for the headline up 1.1% while core CPI should come in at 1.2%. Still, CIBC's Jeremy Stretch says that underlying inflationary pressures in Canada have been consistently overestimated by the market. "With inflation being set to remain well below target there is little pressure upon the BOC to change policy anytime soon," he said. Stretch sees USD/CAD remaining within ranges, moving between 0.9950 to 0.9990 despite the CPI release. USD/CAD at 0.9967, according to CQG.
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