| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 07:00 | Switzerland | Trade Balance | January | 1.27 | 2.35 | 4.74 |
| 09:00 | Eurozone | Current account, adjusted, bln | December | 22.5 | 20.3 | 31.95 |
CAD fell against most of its major counterparts in the European session on Tuesday as investors prepared for a release of the Canadian consumer price index (CPI) report for January later in the day.
Economists expect the CPI report, due out at 1330 GMT, will show the disinflation process in Canada - albeit slow - continued in the first month of 2024.
According to economists' estimates, the headline CPI inflation rose 3.3% YoY in January, easing from 3.4% YoY in December, and the trimmed-mean CPI (the preferred measure of core inflation of the Bank of Canada) increased 3.6% YoY, moderating from 3.7% YoY.
If the CPI data comes hotter than anticipated, markets may push back their expectations on the timing of the first interest rate cut by the BoC and the scope of rate reductions this year.