Early Thursday morning in Asia, Canadian Finance Minister (FinMin) Chrystia Freeland crossed wires via Reuters.

The policymaker said she will provide some type of fiscal update this fall. “Will have more details in the coming days,” adds Freeland.

While speaking on inflation, Canada's Freeland said, "Global forces are responsible for rising inflation, we cannot look for a made-in-Canada solution."

FX implications

As the covid fears renew, hopes of additional stimulus from Canada could help the USD/CAD prices following the news. That said, broadly strong US dollar, backed by inflation and coronavirus fears, helps the Loonie pair to pause the two-day pullback from the highest levels since September by the press time.

Read: USD/CAD retreats from daily tops around 1.2700 after FOMC minutes