Previous Trading Days Events 21.05.2024

Canadas annual inflation rate slowed to a threeyear low of 2.7 in April and core measures continued to ease. Another low inflation figure adds to the probability of cuts happening soon.

Month on month, the consumer price index rose 0.5 in April, also less than a forecast of a 0.6 gain.

Canadian central bankers should have the evidence they need to begin easing monetary policy, Royce Mendes, head of macro strategy for Desjardins Group, wrote in a note, adding that he was expecting the first rate cut to happen in June.

There is no longer any question about the trajectory, and the Bank of Canada is out of excuses to dither and wait for further confirmation to cut at the June meeting, said Kyle Chapman, FX Markets Analyst at Ballinger Group.

The cooling was moderated by gasoline prices; excluding them, annual inflation slowed to 2.5 from 2.8 in March.

Source httpswww.reuters.comworldamericascanadasinflationcools3yrlow27boostratecutbets20240521

Winners vs Losers

Silver XAGUSD returns to the top of the weeks winner list with 1.34 and increases the monthly performance to 20.87. Dollar pairs reached the top Base currency as the dollar remains stable with a potential of gaining more strength.

News Reports Monitor Previous Trading Day 21.05.2024

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Midnight Night Session Asian

Minutes of the May 2024 Reserve Bank of Australia RBA meeting were released at 430. The Board agreed it…