4 Dec 2013
Flash: USD/CAD higher post Boc – Societe Generale
FXstreet.com (London) - Sebastien Galy, strategist at Societe Generale noted that The BoC looked at better data in the US and Canada and taken a slightly dovish stance to it.
Key Quotes:
“It is flagging the under-peforming energy sector and importantly a more persistent downward pressure on core prices from more retail competition (courtesy of new US entrants incidentally)”.
“Overall, you can cherry pick your dovishness if you want from this statement, which is just what the market did trying to take out the 1.07 strikes”.
“The odds is that the market will succeed and break past these barriers for the next wave of acceleration. In a market with few trends, it won’t go unnoticed”.
Key Quotes:
“It is flagging the under-peforming energy sector and importantly a more persistent downward pressure on core prices from more retail competition (courtesy of new US entrants incidentally)”.
“Overall, you can cherry pick your dovishness if you want from this statement, which is just what the market did trying to take out the 1.07 strikes”.
“The odds is that the market will succeed and break past these barriers for the next wave of acceleration. In a market with few trends, it won’t go unnoticed”.