Markets Await Canadian CPI as US Waives Russian Sanctions to Ease Oil Prices

Key Facts

1Canadian annual CPI is expected to rise to 3.2% compared to 3.0% in the previous reading.

2President Trump waived several Russian sanctions to help ease oil prices and fuel shortages.

3Markets are currently pricing in a 35% chance of a rate hike at the upcoming Bank of Canada meeting.

Canadian annual CPI is expected to rise to 3.2% compared to 3.0% in the previous reading, according to investinglive.com. In a separate development, President Trump waived several Russian sanctions to help ease oil prices and address fuel shortages. Markets are currently pricing in a 35% chance of a rate hike at the upcoming Bank of Canada meeting.

These moves come as markets react to a risk-on sentiment driven by the US administration's attempts to contain energy costs without making concessions to Iran. While inflation in Canada has remained near its target, upside risks persist due to elevated energy prices, even as trade tensions with the US weigh on economic growth.