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USD/CAD eyes BoC as uptrend breaks down
The Bank of Canada becomes the second major central bank to meet amid the rapid spread of the Omicron variant. Policymakers are appearing to have different takes on the impact on economies. The upbeat messages from the Fed and earlier today, the RBA contrasts with recent BoE comments which were more cautious. After the BoC announced it would immediately end QE after its October meeting, the domestic economy has continued to grow strongly. Bumper employment reports, strong Q3 GDP data, plus inflation at multi-decade highs above 5% underscores a strong economic outlook. The market is also backing this with five rate ... (full story)
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