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OUTLOOK AND RECAP

CANADA
  • The Bloomberg survey of economist forecasts is likely the main local event today (1000ET). Housing data follows tomorrow but attention is on January CPI on Wed, especially after Thursday’s beat in the US.
  • This will be the only CPI release between the BOC’s hawkish hold on Jan 26 and its next meeting on Mar 2 with ~33bp priced at present.
  • USDCAD has moved towards highs of the past month on further Russia-Ukraine risk-off fears, up 0.3% on the day at 1.277 for 2.6% higher than mid-Jan recent lows.
  • Recap: The Ambassador Bridge re-opened late yesterday after police slowly cleared protesters with the new threat of imposing heavy penalties.

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