TD Research discusses its expectations for today's BoC policy meeting.
"We look for the Bank of Canada to keep rates on hold at 1.75% in October, with a similar message embedded in our base case," TD notes.
"USDCAD is likely to maintain support ahead of 1.30, though the G10 crosses look more interesting on a tactical basis over the coming month. We like short CAD exposure on the scandis, with CADNOK looking especially stretched now.
We also think NZDCAD is starting to form a bottom, leaving good buying opportunities on retests of the lows," TD adds.