Today, the attention in the CAD currency space focuses on the BOC meeting at 14:45 CET – where markets and consensus favor a 25PB feat cut, Danske Bank’s currency analysts report, Kistoffer Kjær Lomholt and Filip Andersson.
Any relief in tariffs will act as a positive factor for CAD
“We also anticipate a 25PB cut, carrying the policy rate to 2.75%, since we hope that the BOC ensures that the Canadian economy is well protected against the impact of US tariff
“This was evident in yesterday’s session, with the crossing, overcoming the 1.45 brand after Trump’s comments about duplicating tariffs on all the steel and aluminum products imported from Canada after Ontario announced that he would maintain his electric surcharge until the US tariffs were eliminated”
“However, the torque concluded the downward session around 1.44 in the middle of the news that Trump ‘probably will reduce the recently increased tariffs to Canada after Ontario suspended its surcharge on electricity exports to the US In tariffs it would act as a positive factor for CAD, while more hill tones of the BOCs would also support our vision in the short term. “
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
