The Bank of Canada decision will be released at the top of the hour. I wrote a full preview of what to expect from the BOC and I'm more focused on the forecasts than on the statement.
Near-term inflation forecasts will almost certainly be hiked but there's some risk that longer-term forecasts could be lowered and I think that's where the market will be focused. If so, it could push USD/CAD back above 1.1300.
USD/CAD has made several forays above that mark in the past week but hasn't been able to hold it.
USDCAD daily
The momentum is definitely to the upside after a softish retail sales report earlier. For a more detailed look at the levels, check out Greg's latest USD/CAD video.
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