USD/CAD: key events coming up, BoC – TDS

By FXStreet FXStreet (Guatemala) – Analysts at TD Securities noted the forthcoming key events for Canada next week.

Key Quotes:

“Canada Federal Election (19 Oct): The latest poll tracker for the federal election (October 19) shows the Liberal party in the lead with 36% support while the Conservatives trail at 30% and the NDP sits at 24%. The emergence of a traditional two-way race reduces some of the uncertainty that had existed earlier in the campaign when the NDP led in the polls. A seat projection shows the Liberals in the lead but short of forming a majority government. As a result, the Liberals will need the support of either the NDP or the Conservatives. While a formal coalition remains unlikely, there is more common ground between the Liberals and the NDP to establish an informal coalition. We view the uncertainty of a change in government and greater political risk with a minority government as CAD negative, though the wider trend in USD weakness is expected to dominate. A full overview of the election can be found here.

2. Bank of Canada Rate Decision & Monetary Policy Report (21 Oct): The Canadian economy has evolved slightly better than the BoC expected …read more

Source:: FX Street