FXstreet.com (Barcelona) - The weakness surrounding the Loonie is accelerating on Friday, still sedated after the BoC unusual dovish tone out of its last monetary policy meeting and despite the context of increasing risk appetite.
Camilla Sutton, Chief Currency Strategist at Scotiabank, believes the CAD would strengthen towards the end of the current year, suggesting, “In the medium-term, we maintain that rising global growth (particularly from the US and China), BoC juxtaposed against Fed policy, an expected narrowing of the WTI-WCS oil spread, the low vol environment, favorable conditions for risk trades and positive investor sentiment will help support CAD into year-end”.
Camilla Sutton, Chief Currency Strategist at Scotiabank, believes the CAD would strengthen towards the end of the current year, suggesting, “In the medium-term, we maintain that rising global growth (particularly from the US and China), BoC juxtaposed against Fed policy, an expected narrowing of the WTI-WCS oil spread, the low vol environment, favorable conditions for risk trades and positive investor sentiment will help support CAD into year-end”.
