Technical Analysis

BAML sees USD/CAD right down to 1.32 in Q1

Financial institution of America Merrill Lynch on the Canadian greenback

Financial institution of America Merrill Lynch Analysis discusses its expectations for subsequent week’s BoC January coverage assembly.

We anticipate the BoC to stay on maintain on 9 January at 1.75%. We anticipate the MPR to chop GDP progress and inflation forecasts.

We anticipate an announcement that leaves the door open for additional hikes.

We anticipate two hikes in 2019 (March/April and October).

We anticipate a decrease charge trajectory with 10y CAD at 2.three% by end-2019. USD/CAD to converge to 1.32 in 1Q,” BofAML tasks. 

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