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27 Feb 2015
CAD up against month end position squaring - Scotiabank
FXStreet (Guatemala) - Camilla sutton, chief FX strategist at Scotiabank explained and noted that the CAD is up from yesterday’s close but still trading well within its recent range.
Key Quotes:
"Considering the BoC’s less dovish stance, stabilization in oil prices and yesterday’s firmer than expected inflation print the expectations for a follow up interest rate cut on March 4th have evaporated and lead USD/CAD contained within its 1.2314 to 1.2799 range."
"There is no domestic data today, leaving USD/CAD most vulnerable to month‐end, weekend position squaring and U.S. data and Fed comments."
Key Quotes:
"Considering the BoC’s less dovish stance, stabilization in oil prices and yesterday’s firmer than expected inflation print the expectations for a follow up interest rate cut on March 4th have evaporated and lead USD/CAD contained within its 1.2314 to 1.2799 range."
"There is no domestic data today, leaving USD/CAD most vulnerable to month‐end, weekend position squaring and U.S. data and Fed comments."