USD/CAD: Loonie to see a short-lived rally on a BoC’s 50 bps hike – ING

“The consensus is split between a 25 bps and 50 bps hike, but we believe a half-point move looks more appropriate given strong economic activity and a very tight labour market. Still, we admit it is a very close call given that the expected economic slowdown and fragility of the Canadian housing market argue for a smaller rate increase.”should rally on the back of the hawkish surprise. However, we don’t see the BoC impact on CAD to be very long-lasting, as external factors remain more important.

“A sustained recovery in CAD from these levels undoubtedly requires a rebound or at least a stabilisation inSee – Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.

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