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27 Aug 2014
USD/CAD pressing lower through 1.09 handle - BBH
FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman noted that the dollar-bloc is faring a bit better.
Key Quotes
"The US dollar has been probing resistance near CAD1.10 over the last several sessions, and it reversed lower yesterday."
"Today the greenback has been pushed below CAD1.09 for the first time in five sessions. Canada reports Q2 GDP at the end of the week, and the consensus expectation appears to have crept up to 2.7% after a 1.2% pace in Q1."
"The Bank of Canada meets on September 3. Its rhetoric is expected to recognize the reduction of the downside risks of inflation and the better growth domestically as well as its dominant trading partner."
Key Quotes
"The US dollar has been probing resistance near CAD1.10 over the last several sessions, and it reversed lower yesterday."
"Today the greenback has been pushed below CAD1.09 for the first time in five sessions. Canada reports Q2 GDP at the end of the week, and the consensus expectation appears to have crept up to 2.7% after a 1.2% pace in Q1."
"The Bank of Canada meets on September 3. Its rhetoric is expected to recognize the reduction of the downside risks of inflation and the better growth domestically as well as its dominant trading partner."