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27 Mar 2015
CAD might recover in H2 2015 – BNPP
FXStreet (Barcelona) - The BNP Paribas Team expects CAD to stage a recovery in the second half of this year, further anticipating USD/CAD to end 2016 at 1.18 levels.
Key Quotes
“The CAD should begin to recover in H2 2015 as commodity markets stabilise and the BoC gradually shifts to a less dovish stance. Moreover, with Canadian data holding up, there is further scope for the rates market to unwind dovish BoC expectations.”
“USD/CAD forecast: 1.26 for 2015-end, 1.18 for 2016-end.”
“Canada GDP Forecast: 1.8% for 2015, 1.6% for 2016.”
“Policy rate Forecast: 0.75% for 2015 end, 2.00% for 2016-end.”
Key Quotes
“The CAD should begin to recover in H2 2015 as commodity markets stabilise and the BoC gradually shifts to a less dovish stance. Moreover, with Canadian data holding up, there is further scope for the rates market to unwind dovish BoC expectations.”
“USD/CAD forecast: 1.26 for 2015-end, 1.18 for 2016-end.”
“Canada GDP Forecast: 1.8% for 2015, 1.6% for 2016.”
“Policy rate Forecast: 0.75% for 2015 end, 2.00% for 2016-end.”