USD/CAD slides down to a two-month low around 1.4255 – BBH
USD/CAD dropped to a two-month low around 1.4255 on broad USD weakness , BBH's FX analysts report.
CPI print, next week to shape the BOC’s next policy rate decision.
"The Bank of Canada (BOC) January 29 meeting Summary of Deliberation highlighted the bank’s concern around trade disputes. Members viewed the impact of prolonged trade uncertainty on business investment and consumer confidence as the main downside risk to the outlook."
"Even if no tariffs were imposed, a long period of uncertainty under the cloud of tariff threats would almost certainly damage business investment in Canada. Members also agreed that it would not be appropriate to provide any guidance on the future path for the policy interest rate in its communications given the high level of uncertainty surrounding the outlook, and the wide range and complexity of potential trade conflict scenarios."
"Markets have trimmed bets of a 25bps BOC policy rate cut in March to 48% vs. 63% on Monday. Canada’s January CPI print, due next week, will play a crucial role in shaping the BOC’s March 12 policy rate decision."
Reprinted from FXStreet，the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.