USD/CAD holds on to Friday’s gains – BBH
|
USD/CAD is holding on to Friday’s gains, BBH FX analysts report.
US trade war dos not bode well for CAD
"The severe negative impact of the US tariffs on the Canadian economy and lower crude oil prices do not bode well for CAD. Bank of Canada (BOC) Q1 business outlook survey will be reported today (3:30pm London)."
"Initial results from recent BOC surveys indicated that trade uncertainty was already prompting businesses to revise down their sales outlooks. Many businesses also reported scaling back their investment plans and hiring intentions. Markets are pricing in 70% odds of a follow-up 25bps BOC policy rate cut at the next meeting April 16 and 75bps of total easing over the next 12 months."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.
