CAD losing momentum? - UBS

FXStreet (Edinburgh) - Strategists at UBS believe the recent rally in CAD would be running out of steam

Key Quotes

“The Canadian dollar has had a good run of late due to generally steady data and additional easing being priced out. But we believe this is just about as good as it will get, and expect USDCAD to base around current levels”.

“In the short term, the labour market outlook remains very subdued, as shown in the latest Bank of Canada Business Outlook Survey”.

“Further ahead, rate expectations are not for a significant change in bias either, and on balance the BoC continues to view a weaker currency as a net benefit for the economy”.