Canadian statistics on inflation, published last Friday, were in line with expectations. It is worth pointing out that the inflation rate reached the target of 2 % of the Bank of Canada for the first time in two years. However, Canada’s retail sales statistics were rather disappointing with a score of -0.1 % instead of the expected 0.3 %. Rising prices at the pump seems to have weighed on Canadian consumers’ spending more than usual in March. Nonetheless, the USDCAD pair varied very little again last week. On the old continent, the GBP has gained strength after the comment of the Bank of England in favor of increasing its policy rate. For its part, the euro continued its decline that began after the last ECB meeting. This week we will be watching the release of GDP in Canada, changes in U.S. consumer’s revenues and spending and unemployment rates in Germany and Japan.
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