• Since the start of July, CAD is the top-performing major currency. Looking in the entire FX universe, only the Mexican peso has outperformed CAD in that time period.
• Odds of a BOC rate hike September at 26%, rising to 73% in October. The odds of two more hikes this year are up to 28%.
• How high does the Canadian dollar go on a NAFTA deal? 1.25 (80-cents). Outside risk of a rise to 82-cents. I think a deal is coming but the market is so reluctant to shift until the ink is dry on the deal. That’s just the way the post-Trump world is. Recent comments from Mexico and Morneau have been upbeat.
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How low for USD/CAD if there’s a NAFTA deal
Great info Adam,thanks.