Organization: Canada's CPI will determine the possibility of the central bank cutting interest rates later this month.

Economist Royce Mendes of Desjardins Group stated that the Canadian CPI report will be released tonight at 20:30, and traders will use this information to determine the likelihood of the Bank of Canada cutting interest rates later this month. Prior to this, Canadian employment data showed strong performance with a net increase of 83,100 jobs and the overall unemployment rate declining from 7% to 6.9%. The unemployment rate for the prime working age group of 25-54 also decreased from 6% to 5.8%. However, Mendes mentioned that the unemployment rate is still high and is not a "swing factor" affecting policy decisions for the Bank of Canada. Inflation data on Tuesday will be the focus.