What are the main events for today? | Forexlive

The main event in the European session was the release of the UK Employment report. The data beat expectations across the board which will keep the BoE in an uncomfortable position. Looking ahead, we have the German ZEW, the Canadian CPI report and the US-Russia talks in Saudi Arabia

13:30 GMT/08:30 ET – Canada January CPI

The Canadian CPI
Y/Y is expected at 1.9% vs. 1.8% prior, while the M/M reading is seen at 0.1%
vs. -0.4% prior. The Trimmed-Mean CPI Y/Y is expected at 2.6% vs. 2.5% prior,
while the Median CPI Y/Y is seen at 2.5% vs. 2.4% prior.

Inflation has been
inside the target band for almost a year and the BoC at the last policy
decision acknowledged that absent the threat of tariffs, the risks to the
inflation outlook were roughly balanced. This implies that the central bank is
now in neutral stance and the pace of easing will be much slower.

The economic
data out of Canada has been picking up after the aggressive easing in monetary
policy and the CAD has been held back only by trade uncertainty. This
uncertainty has eased recently, and the Loonie got the green light to finally
appreciate.

Canada Inflation Measures