Long USDCAD into the BoC meeting - TDS

The BoC meets this morning and despite Poloz's anti-guidance and rapidly shifting expectations of a rate hike, the market universally looks for a hike today, suggests the research team at TD Securities.

Key Quotes

“In the context of global trade tensions and the weakening macro story in Canada, we doubt the hike will do the loonie any favors. We think much of the good news is priced in and don't see the Bank hiking again this year, leaving us long USDCAD into the meeting.”

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.