29 Apr 2014
USD/CAD awaits BoC Governor - TD Securities
FXStreet (Guatemala) - Shaun Osbourne, Chief FX Strategist at TD Securities explained that for today, the CAD remains largely dependent on external developments due to the void in Canadian data.
Key Quotes
"US house price and consumer confidence data are expected to be positive in the main and we continue to believe that broadly constructive data for the US this week (the weather-related hit to growth that Q1 GDP will reflect notwithstanding) will be broadly USD positive."
"Late in the day, the CAD may respond to news from a little closer to home. BoC Governor Poloz and Senior Deputy Gov. Macklem appear before the Commons Finance Committee today at 15.30ET (Senate Committee on Banking Trade &Commerce tomorrow at 16.15ET)."
"The governor’s opening remarks—a run down of the latest MPR—will be released on the BoC website at 15.30ET—so, in theory, there will be little or nothing new here. The CAD has proven sensitive to headlines that have emerged in response to the Q&A element of these events in the past, however."
Key Quotes
"US house price and consumer confidence data are expected to be positive in the main and we continue to believe that broadly constructive data for the US this week (the weather-related hit to growth that Q1 GDP will reflect notwithstanding) will be broadly USD positive."
"Late in the day, the CAD may respond to news from a little closer to home. BoC Governor Poloz and Senior Deputy Gov. Macklem appear before the Commons Finance Committee today at 15.30ET (Senate Committee on Banking Trade &Commerce tomorrow at 16.15ET)."
"The governor’s opening remarks—a run down of the latest MPR—will be released on the BoC website at 15.30ET—so, in theory, there will be little or nothing new here. The CAD has proven sensitive to headlines that have emerged in response to the Q&A element of these events in the past, however."