FXstreet.com (San Francisco) - “For USDCAD, we’d expect its 0.96 to 0.99 range to hold next week,” says Camilla Sutton, CFA, CMT, Chief Currency Strategist at Scotiabank.
“With a deceleration in global growth, inflation pressure in Canada well contained and some softening in the housing market, the case for higher interest rates is evaporating,” she explains. “However for CAD, even with a softening of tone, the BoC is likely to remain far more hawkish than any of the other central banks, helping support a strong CAD.”
“With a deceleration in global growth, inflation pressure in Canada well contained and some softening in the housing market, the case for higher interest rates is evaporating,” she explains. “However for CAD, even with a softening of tone, the BoC is likely to remain far more hawkish than any of the other central banks, helping support a strong CAD.”
