CAD unable to gather traction so far – TDS

FX Strategists at TD Securities see the Canadian Dollar still in a wait-and-see mode for the time being.

Key Quotes

“We still expect CAD to lag the majors despite our more neutral view on the greenback”.

“It is unlikely to benefit from global reflation given reliance on US growth and concerns about the impact of lower-for-longer oil, which favors growth currencies, not CAD”.

“Risks to BoC are asymmetric in that we do not expect a hike until Q418 against market pricing for a hike this year”.