There is something interesting going on in Canada. And it may become a serious argument in favor of future CAD appreciation.
This Monday Business Outlook Survey was out confirming the robust business prospects even before the NAFTA deal was finalised. It means that we would see even more optimistic outlook within the report next month.
What does it mean? It means that the chances of Bank of Canada hiking rates on October, 24 are really high. And the scheduled for Friday release Canadian CPI and the retail sales may confirm the positive picture triggering the interest to Canadian Dollar.
If you add a bullish oil trend as a strong supporter of CAD appreciation, you may realize that USDCAD has all the chances to show sharp sell-off in the nearest future with initial target at 1.2870 and 1.28 to follow.
This Monday Business Outlook Survey was out confirming the robust business prospects even before the NAFTA deal was finalised. It means that we would see even more optimistic outlook within the report next month.
What does it mean? It means that the chances of Bank of Canada hiking rates on October, 24 are really high. And the scheduled for Friday release Canadian CPI and the retail sales may confirm the positive picture triggering the interest to Canadian Dollar.
If you add a bullish oil trend as a strong supporter of CAD appreciation, you may realize that USDCAD has all the chances to show sharp sell-off in the nearest future with initial target at 1.2870 and 1.28 to follow.