The Bank of Canada is putting its .44 magnum back in its holster, saying it does not see the need to use quantitative or credit ease. That news is not totally unexpected, but should support the CAD nonetheless. If the ECB starts QE tomorrow, look for EUR/CAD to keep falling.
USD/CAD trades at 1.1660, just above its lowest level in six months. EUR/CAD is at 1.5555.
