Home CAD: A Move To A More Dovish Stance By BoC – CIBC
Forex News Today: Daily Trading News

CAD: A Move To A More Dovish Stance By BoC – CIBC

The Bank of Canada sent Dollar/CAD to 1.28, the highest level since July on its cautious approach. What’s next? Here is the view from CIBC:

Here is their view, courtesy of eFXnews:

CIBC Research comments on today’s BoC October policy decision:

“The Bank of Canada is highlighting that a stronger Canadian dollar is already weighing on their export outlook. Governor Poloz and co. go on to say that although the economy could be sitting at a zero output gap currently, a weak trend in wages suggests that slack in the labor market leaves them room to keep rates at accommodative levels.

Today’s statement is clearly a move to a more dovish stance by Bank of Canada, and we find strong support to keep our forecast for a next move higher in rate to come only by the spring of 2018,” CIBC argues.

For lots  more FX trades from major banks, sign up to eFXplus

By signing up to eFXplus via the link above, you are directly supporting  Forex Crunch.


Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.