• Canadian Dollar moves broadly higher in Monday rebound.
• Canada data is thin until Friday’s labor figures.
• Rate markets put odds of September Fed rate cut at 65%.

The Canadian Dollar (CAD) is experiencing a moderate rebound on Monday, recovering ground that was lost late last week during the risk-off plunge as markets pulled away from the CAD. Markets are kicking off the new trading week on the upside, however, with thin Canadian economic data throughout the week until Friday’s labour report.

Canada will deliver this week’s first CAD data on Tuesday with the Ivey Purchasing Managers Index (PMI) for the month of April. Market reaction will be muted at best with the mid-tier data release, and the rest of the week remains thin with strictly low-tier economic data from Canada until Friday’s Canadian Unemployment Rate and wages data for April.