Canadian retail sales and CPI coming up next
The May 30 Bank of Canada decision is shaping up to be a tough one to handicap. The implied odds in the OIS market have crept up this week and are at 43% with no BOC speakers left to come before month-end.
The last two pieces of top-tier economic data come at the bottom of the hour with retail sales and CPI due up.
The details are on the economic calendar but if they both significantly miss and both in the same direction, I envision an extended Canadian dollar move.
------
