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31 Mar 2016
CAD: All eyes on January GDP data - BBH
Research Team at BBH, suggests that the Canada reports January GDP today.
Key Quotes
“It is expected to rise 1.1% y/y vs. 0.5% in December. With the Canadian economy starting to look a bit better, it seems unlikely that the BOC will ease again after the last 25 bp cut to 0.50% back in July 2015. The next policy meeting is April 13, and no change then is expected. USD/CAD made new lows for the year this week near 1.2910, with the next target seen near 1.2830 (the October 15 low).”
Key Quotes
“It is expected to rise 1.1% y/y vs. 0.5% in December. With the Canadian economy starting to look a bit better, it seems unlikely that the BOC will ease again after the last 25 bp cut to 0.50% back in July 2015. The next policy meeting is April 13, and no change then is expected. USD/CAD made new lows for the year this week near 1.2910, with the next target seen near 1.2830 (the October 15 low).”