BoC to stay put this month – TDS

FXStreet (Edinburgh) - In the opinion of strategists at TD Securities, the Bank of Canada could keep its monetary stance on hold at this month’s gathering.

Key Quotes

“We think the BoC would prefer to remain on hold, but further easing is likely if domestic weakness intensifies”.

“Data have turned more mixed lately, creating more two-way risk for CAD over the next several weeks, but the medium term trend points to continued weakness”.

“Against a less-certain Fed outlook, oil prices remain a key near-term driver for USDCAD while long positioning does not appear to be particularly stretched”.