The BoC is one of the few central banks committed to policy tightening as officials are preparing markets for a hike as soon as their next MPR meeting July 11, notes Richard Franulovich, Research Analyst at Westpac. Key Quotes “Markets continue to price in a solid 68% probability for a hike at that meeting.” “Yet the backdrop for CAD is increasingly challenged as trade uncertainty grows on multiple fronts: dramatic escalations of US/China trade tensions; US Commerce Dept investigation into possible tariffs on auto imports (on national security grounds) and a non-negligible risk of the Trump administration walking away from NAFTA.” “CAD’s sharp depreciation (even more than EUR over past week) spotlights dramatic shifts in the macro backdrop. If trade tensions continue to intensify and the BoC passes at their next meeting (growing risk) USD/CAD will continue to push higher.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US: Philly Fed survey and jobless claims in the limelight – Nomura FX Street 4 years The BoC is one of the few central banks committed to policy tightening as officials are preparing markets for a hike as soon as their next MPR meeting July 11, notes Richard Franulovich, Research Analyst at Westpac. Key Quotes "Markets continue to price in a solid 68% probability for a hike at that meeting." "Yet the backdrop for CAD is increasingly challenged as trade uncertainty grows on multiple fronts: dramatic escalations of US/China trade tensions; US Commerce Dept investigation into possible tariffs on auto imports (on national security grounds) and a non-negligible risk of the Trump administration walking away from… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
