It’s a pivotal week for the loonie, starting with today’s retail sales data release for September and the BoC monetary policy rate announcement half an hour later. Tomorrow we have the MPR report. Last week’s weaker than expected September CPI release coupled with the dovish comments from Governor Carney has the loonie under-performing outright and against the crosses. The FI market is even pricing in a cautious rate and MPR statement. Later this morning, many expect Carney to change the bank’s current “eventual” stance to neutral. Tomorrow, do not be surprised to see growth forecasts modestly revised for this and ... (full story)