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Jan 24 - 09:55 AM

CAD: Hawkish Risks At Tomorrow’s BoC Meeting - Barclays

By eFXdata  —  Jan 24 - 08:53 AM

Barclays Research discusses CAD outlook around tomorrow's BoC policy meeting.

"We expect some CAD upside from a 25bp hike by the BoC (Wed) that is not completely priced in. However, CAD gains from underpriced BoC hikes in the past have been modest and short-lived and sustained gains depend on the risk backdrop," Barclays notes.

"Beyond the tactical considerations around this week’s meeting, CAD remains first and foremost a risk/SPX trade. Accordingly, sustained gains versus the US dollar in particularly likely require S&P 500 index catch-up with equity markets abroad," Barclays adds.

Source:
Barclays Research/Market Commentary

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