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Canadian CPI to slow, CAD recovery running out of steam - BNPP

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Research Team at BNP Paribas, expects Canadian CPI inflation to slow both in the headline to 1.4% y/y and the core rate to 1.8% y/y.

    Key Quotes

    “While weakness in the CAD was probably the main reason the BoC did not cut rates in January, with inflation now back below target and tradeweighted CAD strengthening by 6.5% from its January lows, the risk of further BoC easing should resurface. As short CAD positioning has been reduced we think USDCAD downturn is running out of steam and expect a rebound to 1.50 by Q3.”
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