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Canadian dollar outperforms G10 peers amid US election uncertainty
The Canadian dollar rose against its U.S. counterpart on Wednesday as investors judged that much of the Bank of Canada's potential policy easing has been priced into the market and assessed the likely economic impact of the upcoming U.S. election. Chances of an unusually large 50-basis-point interest rate cut from the BoC on Oct. 23 have climbed to roughly 80% from 50% before the release of cooler-than-expected domestic inflation data on Tuesday. It would be the first move greater than 25 basis points since the central bank's easing campaign began in June. "I think we've probably seen most of the loonie weakness for ... (full story)
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- Posted: Oct 16, 2024 2:21pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 3,932
