17 Jul 2014
USD/CAD wavers after BoC, inflation data eyed - UBS
FXStreet (Córdoba) - The UBS analyst team noted that after the BoC diminished risks of a downward drift of inflation expectations, Friday’s CPI figures become key.
Key Quotes
“The CAD weakened slightly against the USD after the Bank of Canada kept the overnight rate target unchanged at 1.0%”.
“They significantly lowered their US growth forecast after the bad winter, and subsequently see a bit less growth for Canada as well. However, they also see diminished risks of a downward drift of inflation expectations”.
“The upcoming June inflation data released on Friday should give further evidence on the nature of the recent inflation surge, which they see as temporary”.
Key Quotes
“The CAD weakened slightly against the USD after the Bank of Canada kept the overnight rate target unchanged at 1.0%”.
“They significantly lowered their US growth forecast after the bad winter, and subsequently see a bit less growth for Canada as well. However, they also see diminished risks of a downward drift of inflation expectations”.
“The upcoming June inflation data released on Friday should give further evidence on the nature of the recent inflation surge, which they see as temporary”.