TD Securities sees Canada hike on January 17

Author: Greg Michalowski | Category: News

TD Securities Baumann on note to clients

TD securities Baumann in an email note to clients expects the BOC to hike rates on January 17.  According to Bloomberg the hike probability is up to 78.2% for the January meeting now after the back to back employment changes of 79K. 

The USDCAD fell below a lower trend line on the hourly chart at 1.2369, but is back above that line currently.  A move below will be eyed as being more bearish technically.  The 1.2413 area corresponds with swing lows from September 28/29.  Look for that level to try and cap rallies.