- The Canadian Dollar is poised to backslide another fifth of a percent against the US Dollar on Tuesday.
- A lack of CAD-centric economic calendar activity this week has the Loonie playing second fiddle to the Greenback.
- The US economic calendar is equally thin on Tuesday, though markets are gearing up for Wednesday’s US Consumer Price Index (CPI) inflation update.
- Headline US CPI is expected to rise to 2.6% YoY from 2.4%, core CPI forecast to hold steady at 3.3% YoY.
- An upswing in US consumer-level inflation could rattle market confidence in one last rate cut from the Federal Reserve (Fed) in 2024.
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