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CIBC's weekly outlook: Loonie To Languish Longer; Aussie Appreciation Overdone

Discussion in 'Market News' started by ForexLive, Dec 15, 2015.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
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    CIBC's latest weekly outlook for the CAD and AUD As the economy rebounded in Q3, markets moved to price out the possibility of a further BoC interest rate cut. That helped support the loonie even as oil started to slide. However, that's changed in the past week, with poor September GDP, November employment and October trade figures suggesting that the economy continues to struggle. That's seen markets price in a greater probability of another interest rate cut and seen the consensus trim its forecast for Q4 GDP. But there's probably more downgrades to come. And even though we don't forecast a rate cut, markets could certainly price in a greater probability of one which would weigh on the loonie.

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