加元反弹，交易员关注粘性核心通胀。交易员对加拿大整体CPI不屑一顾，并锁定了粘性核心通胀，导致加元走高，降息可能性降低。

Canadian Dollar Rebounds as Traders Focus on Sticky Core Inflation.Traders shrugged off Canada's headline CPI and locked in on sticky core inflation, sending CAD higher and rate cut odds lower.

周二，标准普尔/多伦多证交所综合指数下跌0.5%，收于27054点，从历史高点回落，因为海湾街重新调整了对国内通胀和贸易战风险的调整。6月份的整体CPI为1.9%，加上仍然很高的3%的削减后平均核心利率，强化了人们对中国银行将隔夜利率保持在2.75%而不是转向降息的预期，促使利率敏感行业获利回吐。与此同时，特朗普总统再次威胁对欧盟和墨西哥进口商品征收30%的关税，加上对加拿大出口商品在美墨加协定例外情况下征收的现有关税，重新引发了人们对资源和汽车出口商跨境贸易量的担忧。能源生产商领跌，加拿大自然资源公司下跌1.4%，森科尔能源公司下跌0.9%，帝国石油公司下跌1%，而Wheaton Precious和Barrick各下跌0.7%以上，Shopify下跌约1.3%，金融股也下跌。

The S&P/TSX Composite eased 0.5% to close at 27,054 on Tuesday, pulling back from record highs as Bay Street recalibrated to sticky domestic inflation and elevated trade-war risks. June’s headline CPI of 1.9%, coupled with a still-high 3% trimmed-mean core rate, reinforced expectations that the BoC will hold its overnight rate at 2.75% rather than pivot to cuts, prompting profit-taking in rate-sensitive sectors. At the same time, President Trump’s renewed threat of 30% tariffs on EU and Mexican imports, added to existing duties on Canadian exports outside USMCA carve-outs, revived concerns over cross-border volumes for resource and auto exporters. Energy producers led the decline, with Canadian Natural Resources down 1.4%, Suncor Energy off 0.9% and Imperial Oil slipping 1%, while Wheaton Precious and Barrick each shed over 0.7%, Shopify lost about 1.3% and financials also traded lower.

加元小幅下跌，CPI数据抑制降息押注。周二，加元兑美元汇率小幅下跌，但加元跌幅小于其他10国集团货币，因为国内通胀数据降低了对加拿大银行降息的预期。

Canadian dollar falls slightly, CPI data crimps rate-cut bets.The Canadian dollar edged lower against its U.S. counterpart on Tuesday, but the loonie declined less than the other Group of 10 currencies as domestic inflation data reduced expectations for Bank of Canada interest rate cuts.

加拿大总理卡尼：美国关税可能会继续存在。特朗普正在享受即将到来的美元，并希望通货膨胀不会持续下去，而只是一次性的。所以我同意零通货膨胀不会发生。

Canada Prime Minister Carney: US tariffs may be here to stay.Trump is enjoying the $$$ coming in and hoping that inflation is not persistent but just a one off. So I would agree that going to zero is not going to happen.