USD/CAD seems to be tracking the yearly range amid the failed attempt to test the April low (1.3301), but data prints coming out of the US may generate increased volatility in the exchange rate amid hints of stagflation. The core Personal Consumption Expenditure (PCE) Price Index, the Federal Reserve’s preferred gauge for inflation, is anticipated to hold steady at 4.6% per annum in April, while US Durable Goods Orders are expected to contract 1.0% during the same period following the 3.2% expansion in March. Evidence of persistent price growth along withs signs of a slowing economy may cloud the US monetary policy ... (full story)