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Goldman Says Short the Loonie Before Bank of Canada Policy Shifts
Investors should bet on declines in the loonie against the U.S. dollar and the yen as the Bank of Canada may soon join other central banks in a dovish shift. That’s the view of Goldman Sachs & Co. strategists Zach Pandl and Karen Fishman. They said in a note Tuesday that while Canada’s economy has held up well, it’s exposed to slower U.S. growth and the trade conflict that’s been heating up between America and China. The BOC’s next decision comes Sept. 4. It will need to incorporate the latest tit-for-tat tariff announcement in its growth outlook, and is likely to lay the groundwork for an interest-rate cut ... (full story)
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