Inflation and housing in focus

The US dollar is in a minor retreat today after more than three-weeks of non-stop gains. Fundamentals aren't a big factor with some second-tier data on the docket but PPI could have some effect.

The consensus for the April report is a 0.2% rise on both the headline and ex-food and energy.

At the same time, Canadian building permits are expected to rise 2.0%. USD/CAD is the big mover so far today, down 62 pips to 1.2888 as oil busts out to the upside.