CAD: BoC Hike This Week Now Well-Priced; Limited Room For Further Upside – MUFG

The Canadian Dollar is waiting for the rate decision. But is it all priced in?

Here is their view, courtesy of eFXdata:

MUFG Research discusses CAD outlook around this week’s BoC July policy meeting.

“One of the key events this week for the markets will be the monetary policy decision in Canada on Wednesday….

Given the global backdrop, and given the decision is still quite finely balanced, there is certainly a good chance the communication on Wednesday indicates a high level of caution going forward.

That suggests to us that while this will help support CAD, the prospect of any notable strengthening is limited with this hike now well priced,” MUFG argues.

For lots more FX trades from major banks, sign up to eFXplus

By signing up to eFXplus via the link above, you are directly supporting Forex Crunch.


Leave a Reply

Яндекс.Метрика