Previews of today's Bank of Canada meeting posted earlier:

Goldman Sachs via eFX:

  • "Our economists expect the BoC to slow the pace of hikes to 25bps at this week's meeting and to pause thereafter, assuming inflation is in line with our forecasts. We will be most focused on any potential changes in forward guidance or comments from Governor Macklem on the strength of the labor market," GS notes.
  • "Overall, risks lean toward a pause next week rather than a larger-than-expected hike in our view, meaning USD/CAD faces upside risk on the meeting. Until then, if the broad Dollar continues breaking lower, which seems to have few obstacles in the near term, CAD is likely to see additional weakness on crosses," GS adds.

For bank trade ideas, check out eFX Plus. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. Get it here.

Macklem BOC Oct 26

Bank of Canada Governor Macklem