USD/CAD: A surprisingly hawkish BoC might provide further support to Loonie – Commerzbank USDCAD BOC Inflation Banks
growth slowed further in December. Loonie rose after the data. A hawkish Bank of Canada next week could provide furthe support.“Even though the overall rate eased a little more than expected to 6.3% , and the core rates eased slightly to 5.0% and 5.3% respectively , the previous month’s result was corrected to the upside. That means the impression of an overall rate slowly easing is confirmed, as is the image of a core rate still stubbornly moving sideways above 5%.
“The Loonie was able to benefit from yesterday’s inflation data. A surprisingly hawkish BoC might provide further support, in particular if the other central banks surprise on the dovish side.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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