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Canadian employment likely declined in November, jobless rate to have risen to 9 pct

Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed

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Bank of Korea likely to keep key interest rate on hold at 0.50 pct in November

Reserve Bank of India likely to stand pat in December

Canadian inflation continues to ease, moving closer to the Bank of Canada's target

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Bank Indonesia keeps key interest rate on hold at 3.75 pct

Canada's economy shows growth in July, but growth stalled in

U.S. Consumer Confidence falls in September

U.S. existing home sales rise above expectations in October

Malaysian headline inflation falls further in October, likely to remain negative in 2020

Taiwanese money supply continues to see strong growth, CBC likely to keep rates on hold in December

U.K.’s flash PMI indices indicate decline in business activity in November, composite index falls to 47.4

U.S. durable goods orders sustain robust growth

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U.S. personal income and spending rose less than expected in August

More USD/CAD weakness in 2016

Tuesday, June 30, 2015 3:54 AM UTC

The pickup in US data alongside a September Fed hike will support USD-CAD. 

Additionally, WTI prices will dip in Q3 (before rebounding in Q4), according to our energy analysts, also weighing on CAD. With USD/CAD downside limited by BoC rhetoric, upside risks is seen to the forecasts through year-end.

USD/CAD is continuosly seen at 1.27 at both Q3 and year end.

For 2016, we adjust higher the profile of our forecasts reflecting our view for on-hold BoC policy, against market expectations, residual competitiveness issues which will hamper Canadian growth despite the US economic acceleration, and still large current account. 

"USD/CAD is expected to remain at 1.30 through the entirety of 2016", forecasts Bank of America.

 

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