CAD: To outperform into BoC rate announcement – ING
|Canadian headline inflation slowed to 1.6%. The jobs market strengthened in September, expect CAD outperformance next week around the Bank of Canada rate announcement, ING’s FX analyst Francesco Pesole notes.
BoC to announce a new rate policy next week
“Elsewhere in G10, Canadian headline inflation slowed to 1.6% yesterday (consensus 1.8%), which prompted markets to price an even higher chance (77%) of a 50bp Bank of Canada cut next week. We remain in the 25bp camp though.”
“The jobs market strengthened in September and the core measures did not decline further and remain above 2.0%. We expect CAD outperformance next week around the Bank of Canada rate announcement.”
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