US consumer confidence and Canada’s CPI in focus - BBH

Analysts at BBH note that the US reports new home sales and the University of Michigan's consumer confidence and inflation expectations survey.  

Key Quotes

“Earlier this week, January existing home sales rose 3.3% (three times more than expected and the December series was revised to show a smaller decline of 1.6% rather than 2.8%).  New homes sales fell by an outsized 10.4% in December and are expected to have bounced back in January (median forecast is 6.4%).”

“Canada reports January CPI figures today.  The headline is expected to rise 0.4% and lift the year-over-year rate to 1.6% from 1.5%.  The base effect may ease starting with the March report.  In any event, the report is most unlikely to impact expectations for next week's Bank of Canada meeting.  Bank of Canada is widely seen on hold for some time.”