BoC unlikely to hurt CAD - BNPP

Research Team at BNP Paribas, sees a dovish surprise from the Bank of Canada (BoC) meeting this week (Wednesday) as unlikely which is not going dent the CAD sentiment.

Key Quotes

“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 1.3028.”

Oct 17, 2016

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