Free Trial

CAD Sitting Circa 3.5% Weaker Compared To Last BoC Decision

  • USDCAD trades close to week lows, currently 1.3674 off lows of 1.3651 after an intraday swing from a high of 1.3854 before Fed stepdown talk.
  • With an eye to next week’s BoC decision, USDCAD has climbed over 3.5% since prior to the Sep 7 decision despite today’s sizeable rally.
  • Whilst the US has a very large weight, it’s not simply a dollar story with CAD seeing a similar trade-weighted decline in the Deutsche Bank series, and over 4% compared to the last forecast round for the July MPR, adding a notable inflationary impulse to projections.

Source: Bloomberg

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.