Bank of Canada’s Interest Rate Decision Will be a Tough Call

Summary The February consumer price data came in a touch stronger than expected. The headline CPI increased 0.4% in the month, led by higher gasoline prices (+3.8%). Excluding food and energy prices, core inflation also registered 0.4%. However, the unrounded 0.36% bump in core CPI was not too far off our forecast for a 0.30% […]

In focus today The focus in the Nordics for today will be the Q2 GDP report from Sweden due at 08.00 CET. The unofficial GDP indicator showed a 0.8% q/q drop in GDP, however, that seems a tad excessive to us and we would not be surprised if today’s release indicates slightly less negative growth. […]

EURGBP slides but remains within a range MACD and RSI detect negative momentum A dip below 0.8520 could turn the outlook bearish EURGBP has been drifting south recently, after it hit resistance slightly above the 0.8700 territory. That said, although the pair is currently trading below all three of the plotted exponential moving averages (EMAs) […]