Greg Gibbs, Analyst at Amplifying Global FX Capital, notes that the CAD has shot up in the last two sessions with the cloud of NAFTA negotiations lifted over the currency.
Key Quotes
“These are difficult levels to start buying the CAD, but it could build on its gains in recent days. The economy continues to show strength, the recent inflation data moved somewhat above the target on average for three underlying measures (trimmed mean: 2.2%, weighted median: 2.1%, common component: 2.0%), setting the stage for higher rates, and oil prices are at their highs since 2014.”
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