CAD: Boc Unlikely To Hurt CAD; Our Quant Model Is Short USD/CAD - BNPP

Market news

18 October 2016

CAD: Boc Unlikely To Hurt CAD; Our Quant Model Is Short USD/CAD - BNPP

"We see a dovish surprise from the Bank of Canada (BoC) meeting this week (Wednesday) as unlikely; Canadian economic data and oil prices are holding up relatively well so the market is unlikely to price in more BoC easing soon.

Canadian inflation data for September will be released at the end of the week

Our BNP Paribas STEER model continues to run a short USDCAD recommendation, targeting a move down to 1.3013".

Will the pound’s masive drop be enough to stimulate inflation? Expected +0.9% (y/y), up 0.3% from the previous reading. GBP volatility set to continue

Moody's: negative interest rates worsen the profitability of Japanese banks

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