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The BoC rate decision is due up at....>

DOLLAR-CANADA
DOLLAR-CANADA: The BoC rate decision is due up at the top of the hour. Amid a
backdrop of strong economic data, the Bank of Canada is widely expected to hike
rate by 25bps to 1.5%. Markets will focus on the MPR with updated forecasts for
GDP & inflation. Governor Poloz's press conference will also be key re: forward
guidance. Caution is expected to remain around trade related uncertainties with
US steel & aluminium tariffs, NAFTA talks and the threat of more levies in the
auto sector.
- Most domestic banks forecast a 25bp hike, suggesting a dovish hike, while CIBC
moves away from the consensus suggesting a hawkish hike. CIBC see market
positioned short CAD, add that any react dip below C$1.3000 would provide an
attractive level to enter longs, a move toward C$1.2850 would be a 'gift'.

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