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Oct 22 - 11:00 AM
CAD: Muted Response To Election, Could Weaken Modestly Later On - MUFG
First appeared on eFXplus on Oct 22 - 09:00 AM

MUFG Research discusses its reaction to the outcome of yesterday's Canadian Elections

"The Loonie has had a muted reaction to the results coming in from the Canadian election, with incumbent PM Justin Trudeau set to win a second term despite losing his majority in parliament. Overall it appears that government policy will be continuing on a similar trajectory as before the election, characterised by somewhat looser fiscal policy and more aggressive climate change policies, which explains the relatively muted FX reaction," MUFG notes. 

"There is a risk that this government could become more left leaning than its predecessor, with looser fiscal policy and potentially somewhat less business-friendly approach, which could erode the appeal of the loonie over time," MUFG adds. 

 

Source:
BTMU Research/Market Commentary

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