CAD: A Move To A More Dovish Stance By BoC – CIBC

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The Bank of Canada sent Dollar/CAD to 1.28, the highest level since July on its cautious approach. What’s next? Here is the view from CIBC:

Here is their view, courtesy of eFXnews:

CIBC Research comments on today’s BoC October policy decision:

“The Bank of Canada is highlighting that a stronger Canadian dollar is already weighing on their export outlook. Governor Poloz and co. go on to say that although the economy could be sitting at a zero output gap currently, a weak trend in wages suggests that slack in the labor market leaves them room to keep rates at accommodative levels.

Today’s statement is clearly a move to a more dovish stance by Bank of Canada, and we find strong support to keep our forecast for a next move higher in rate to come only by the spring of 2018,” CIBC argues.

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Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

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