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Oct 30 - 09:48 AM
CAD: BoC On Hold; Looking To Buy NZD/CAD On Dips - TD
First appeared on eFXplus on Oct 30 - 08:16 AM

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. 

TD Bank Research/Market Commentary


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