Comments on the Canadian dollar via CIBC forex strategists.
They argue that they expect Canadian economic data to weaken in the months ahead
- recent Canadian economic data has been a rebound from a weak Q4 and Q1
- is likely to soften - the economic surprise index is near a nine-year high and expected to revert
From an external perspective,
- global trade environment is getting worse, not better
Should lead to a lower CAD ahead.
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CAD a big loser overnight:
