- Cites moderate global growth outlook and household troubles
- Rates more likely to go down than up
USD/CAD climbs to 0.9946 from 0.9915 on the comment. It shouldn’t be a surprise because the language in yesterday’s BOC statement downgraded the chance of a hike, while maintaining a hiking bias.
The market might be getting a bit too excited here, no hikes were priced in for the next year.
