Daily digest market movers: BoC rate cut takes center stage for CAD traders
- The BoC is broadly expected to deliver another quarter-point cut in July after an initial cut in June.
- Markets will be tuning into BoC Governor Tiff Macklem’s Press Conference after the rate call to try and suss out how many more cuts the BoC could be poised to deliver in 2024.
- Rate markets are broadly pricing in around 65 more basis points in cuts through December.
- Market flows are tipped in favor of the Greenback on Monday, giving the USD a firm leg up.
- Key US activity and inflation figures are due later this week. After a stellar run in rate cut expectations the week before, markets could be leery heading into the release window.
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