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3 Mar 2015
BoC rate cut possible but widely unexpected - SocGen
FXStreet (Bali) - Sebastien Galy , FX Strategist at Westpac, notes that a BoC rate cut is possible tomorrow but widely unexpected.
Key Quotes
"A BoC rate cut is possible tomorrow but widely unexpected. Nonetheless, even with this possibility of a surprise from the BoC, we are getting close to the turn around in CAD vs USD."
"It is now cheap on all metrics and the potential for a widening of rate differential expectations is close to peaking. We expect quite a good NFP on Friday suggesting USDCAD 1.28 is still on the way."
Key Quotes
"A BoC rate cut is possible tomorrow but widely unexpected. Nonetheless, even with this possibility of a surprise from the BoC, we are getting close to the turn around in CAD vs USD."
"It is now cheap on all metrics and the potential for a widening of rate differential expectations is close to peaking. We expect quite a good NFP on Friday suggesting USDCAD 1.28 is still on the way."