Analysts at TD Securities explained that the Poloz speech and presser puts the spotlight on Friday’s data releases for CAD.
Key Quotes:
“A miss on the GDP print probably leaves the meeting as a coin toss as a few basis points will get priced out. Still, the loonie already has a fair amount of negative priced in at the moment. Oil prices have helped to stem some of the bleeding and we prefer to buy into dips towards 1.3150 then to chase the move higher from here. We still see scope for a push towards 1.35 over the summer.”
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