The U.S. dollar slipped below 1.4100 Canadian dollars on Monday, extending a recent decline before a Canadian inflation report that may influence the Bank of Canada's Oct. 28 rate decision.
Investing.com data checked at about 7 a.m. ET (11:00 UTC) showed USD/CAD touching 1.4088 Canadian dollars per U.S. dollar on Oct. 19; the last lower reading was 1.4057 on Sept. 23.
The Bank of Canada's indicative daily rate for the pair fell from 1.4263 on Oct. 14 to 1.4154 on Oct. 16. Those daily readings do not measure Monday's intraday trading.
Statistics Canada is due to publish September's Consumer Price Index (CPI) at 8:30 a.m. ET Monday. In August, CPI rose 3.0% from a year earlier; excluding gasoline, it increased 2.4%. Gasoline prices climbed 22.8% over the same period.
The Bank of Canada left its overnight rate target at 2.25% on Sept. 2. It said higher gasoline prices had kept inflation near 3% and warned that energy costs might spread to other prices.
New U.S. tariffs were another concern in the bank's September policy discussions. The bank estimated that the duties applied to roughly 5% of Canada's goods exports to the United States and would have substantial effects on the firms and workers exposed to them.
The bank's next rate decision and Monetary Policy Report are scheduled for Oct. 28 at 9:45 a.m. ET.
