This week’s main event coming up today

It’s finally time for US CPI.

Markets have been eagerly awaiting the March CPI print.

It’s set to be a lively one with all the recent talk about reflation risks, and with the recent price action in commodities and yields.

Apart from US inflation data, we also have the Bank of Canada policy decision coming up at 13:45 GMT.

Following the decent deceleration in the recent CPI data, as well as Friday’s miss in the jobs data, the risks are skewed towards a more dovish message.

Looking at the price action in the CAD following Fridays labour data, I think it’s possible that a dovish message might already be reflected in the price.

Good luck out there!

This article was written by Arno V Venter at www.forexlive.com.