- Analytics
- News and Tools
- Market News
- CAD: Is the worst behind us? - Credit Agricole
CAD: Is the worst behind us? - Credit Agricole
eFXdata reports that Credit Agricole Research discusses CAD outlook and adopts a cautious bias around current levels.
"The CAD has regained some composure of late on the back of cautious consolidation of global oil prices and after the BoC cut rate by 50bp and launched QE earlier last week...In addition, in the wake of the BoC's easing measures, the rates markets seem to assume that the MPC has hit its effective lower bound in rates. In turn, we think that at least some of the cyclical headwinds for the CAD could start abating from here," CACIB notes.
"Looking ahead, key for the CAD this week will be the outlook for oil as well as Canadian labour market. We believe that it would take further tangible evidence that the oil price outlook is stabilising to see the CAD extend its recent recovery. Moreover, the upcoming releases could highlight the grave impact of the oil price slump and Covid-19 on the Canadian economy and mute any CAD gains for the time being," CACIB adds.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
