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USD/CAD: FOMC minutes are key - Scotiabank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 8, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - Eric Theoret, CFA, CMT FX Strategist at Scotiabank explained that CAD appears vulnerable following its sizeable rally from late September, with near term risk centered on the release of Fed minutes at 2:00pm EST.

    Key Quotes:

    "CAD correlations to typical drivers (oil prices, relative central bank policy) appear to be reasserting themselves, as we note an ongoing sensitivity to the broader tone."

    "We see the Fed minutes as the most important near term risk for CAD, given the potential for a re-assessment of the view that has provided for broad-based USD weakness since last Friday’s disappointing U.S. employment release".
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