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The Canadian Dollar is waiting for the rate decision. But is it all priced in?

Here is their view, courtesy of eFXdata:

MUFG Research discusses CAD outlook around  this week’s BoC July policy meeting.

“One of the key events this week for the markets will be the monetary policy decision in Canada on Wednesday….

Given the global backdrop, and given the  decision is still quite finely balanced, there is certainly a good chance the communication on Wednesday indicates a high level of caution going forward.

That suggests to us that  while this will help support CAD, the prospect of any notable strengthening is limited with this hike now well priced,” MUFG argues.

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