USDCAD and BOC Rate Cuts - My Polymarket Thoughts

The $USDCAD hovering around 1.41059 today, even with the slightly weaker USD, suggests that the market might be pricing in a more aggressive BOC rate cut cycle than anticipated. I'm looking at some of the Polymarket contracts on Canadian interest rate decisions for later this year; the implied probabilities for multiple cuts seem to have edged up. It makes me wonder if the recent oil price stability, despite global growth concerns, isn't providing the CAD with as much support as some were hoping, leaving more room for the BOC to move. Keeping an eye on how these odds shift as we get closer to the next CPI print.