Loonie is Ranging in Its Comfortable Range
USDCAD is trading in a range between 1.3100 and 1.3350.
Weak Q4 GDP print saw CAD offered across the majors, and the outlook does not look better in Q1 2019 as mentioned by BOC Poloz. Couple with inflation data that is lower than BOC's projection, market is expecting a dovish statement from BOC this week.
Keep an eye on China's Two Sessions as positive takes from Premier LiKeqiang's opening remark coud see a rally in the commodity market.
Weak Q4 GDP print saw CAD offered across the majors, and the outlook does not look better in Q1 2019 as mentioned by BOC Poloz. Couple with inflation data that is lower than BOC's projection, market is expecting a dovish statement from BOC this week.
Keep an eye on China's Two Sessions as positive takes from Premier LiKeqiang's opening remark coud see a rally in the commodity market.
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