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Full Lifting Of Restrictions Could Weigh On CAD At The Margin

CANADA
  • News that Canada is lifting all its Covid-19 border and travel restrictions from Oct 1 had relatively little impact on CAD amidst USD gyrations but could support trend CAD weakening ahead, at least at the margin.
  • Much of the lockdown-related correction in travel-related services has already been reversed, but at a deficit of -0.7% GDP in Q2 it remained off the -1% GDP from the three years prior to the pandemic which if it continues to trend lower would add CAD net outflows [see chart].

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