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CAD: Rangebound for now?
The Canadian dollar is a good example of a currency that has a bullish outlook, but may not be pushing higher in the short term. Why? This is because quite a lot of the good news for CAD has already been priced in. At the last Bank of Canada meeting on Oct 27, the BoC left rates on hold, but they ended QE and brought rate guidance forward to the middle quarter of 2022 from sometime in the second half of 2022. This move was supportive for the CAD. However, if you take a look at the CAD below you can see that in the run-up to the meeting.So, today we have the CAD CPI print and it will be interesting to see if ... (full story)
