The USD / CAD will seek with the decision of the Bank of Canada (BoC), today at 15:00 GMT, a greater directionality, which could lead to a break of the range of 1.2600 to 1.2750, report economists from OCBC Bank.
Key statements:
“Policy changes are not expected. They should continue to sound optimistic, and perhaps lay the groundwork for a reduction in asset purchases (CAD 4 billion per week now) in the upcoming meetings. This would put the BoC well ahead in terms of easing monetary stimulus, and underlies our bias towards a more structurally sound CAD. ”
“There is a chance that the USD / CAD pair will break out of the 1.2600-1.2750 range, waiting for the market to read about the BoC’s decision. “
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