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BoC Business and Consumer Surveys Ahead

CANADA
  • The BoC’s Business Outlook Survey (BOS) and Canadian Survey of Consumer Expectations (CSCE) are released at the bottom of the hour.
  • Amongst the wide range of details, we’ll watch the various inflation expectations questions and price setting behaviour, the latter which was still normalizing in Q1 but with a near-normal share of firms expecting significant increases in costs and selling prices.
  • It’s more secondary but investment intentions are also of note after a particularly weak Q1, when a net 0% expected to increase investment spending on machinery & equipment over the next twelve months (lowest since 2Q20).
  • Front GoCs outperform Tsys (Can-US 2Y yield differential -2.5bps lower on the day at -65.3bps) whilst USDCAD at 1.3654 is close to resistance at 1.3666 (50-day EMA).
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  • The BoC’s Business Outlook Survey (BOS) and Canadian Survey of Consumer Expectations (CSCE) are released at the bottom of the hour.
  • Amongst the wide range of details, we’ll watch the various inflation expectations questions and price setting behaviour, the latter which was still normalizing in Q1 but with a near-normal share of firms expecting significant increases in costs and selling prices.
  • It’s more secondary but investment intentions are also of note after a particularly weak Q1, when a net 0% expected to increase investment spending on machinery & equipment over the next twelve months (lowest since 2Q20).
  • Front GoCs outperform Tsys (Can-US 2Y yield differential -2.5bps lower on the day at -65.3bps) whilst USDCAD at 1.3654 is close to resistance at 1.3666 (50-day EMA).