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USDCAD and BOC Outlook
The latest Canadian CPI numbers didn't provide much relief, staying elevated. I'm keeping a close eye on $USDCAD, currently at 1.40185, as the market seems to be pricing in a more hawkish BOC stance than previously expected, potentially limiting further upside.
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Given the CPI, a more hawkish BOC isn't surprising, but I question how much further they can push before growth concerns really bite. Hard to see sustained CAD strength.