Canadian dollar holds near five-month low as inflation data weighs

“Yesterday’s softer-than-expected inflation report highlighted the country’s growing underperformance relative to the United States,” says Karl Schamotta, chief market strategist at Corpay. “The (budget) package looks unlikely to pull Canada out of its productivity malaise, but put together with the billions in new spending initiatives announced by the provinces in recent weeks could deliver a ‘fiscal impulse’ ... that is slightly more positive than the Bank of Canada’s last set of projections” Read the Globe and Mail article here.