FXStreet (Barcelona) – In lieu of soft Canadian data, Jane Foley, Senior Currency Strategist at Rabobank, sees further easing ahead by BoC this month, and forecasts USD/CAD to see 1.30 on a 12M view.
Key Quotes
“We have also revised lower our CAD forecasts. Following the weak Canadian April GDP data, the risks that Canada could fall into recession in Q2 have increased. Consequently we now expect a BoC rate cut this month. We see risk of a move to USD/CAD 1.30 on a 12 mth view.”
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