Richard Franulovich, head of FX strategy at Westpac, points out that the BoC struck a neutral bias for yet another meeting, defying expectations for an explicit easing bias. Key Quotes “Their statement conveyed a notably more squeamish tone, the bank downplaying the upside surprise in Q2 growth and noting that, “escalating trade conflicts and related uncertainty are taking a toll on the global and Canadian economies”.” “The absence of an explicit BoC easing bias and the USD’s less steady tone in the wake of the lousy August ISM will provide USD/CAD with some breathing room to explore lower levels near term. However, rates markets are not getting carried away and neither should USD/CAD. OIS markets are still pricing in more than 80% chance of a BoC rate cut by their December 2019 meeting.” “US survey data underscore risks of a weaker Canadian growth path into year’s end. USD/CAD has room down to 1.3100- 1.3150 but the underlying choppy uptrend from Q4 2017 remains intact.” 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: ISM Non-Manufacturing PMI improves to 56.4 in August vs. 54 expected FX Street 4 years Richard Franulovich, head of FX strategy at Westpac, points out that the BoC struck a neutral bias for yet another meeting, defying expectations for an explicit easing bias. Key Quotes "Their statement conveyed a notably more squeamish tone, the bank downplaying the upside surprise in Q2 growth and noting that, "escalating trade conflicts and related uncertainty are taking a toll on the global and Canadian economies"." "The absence of an explicit BoC easing bias and the USD's less steady tone in the wake of the lousy August ISM will provide USD/CAD with some breathing room to explore lower levels near… Regulated 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.
