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Trading news
1 Jan 1970
Stronger inflation, retail sales support CAD – UBS
FXStreet (Córdoba) - The UBS analyst team expects improving signs from the Canadian economy to reduce the risk of further easing from the Bank of Canada and lead the USD/CAD to 1.10 in three months.
Key Quotes
"Due to a jump in consumer prices in February 2013, markets expected the annual inflation rate to drop considerably this February. However, at 1.1% it was higher than expected. Further, retail sales in January have been robust despite the bad weather".
"All this helped the CAD to rebound from Thursday's 4-1/2 year low against the USD".
"We expect improving signs from the Canadian economy to reduce the risk of further easing from the Bank of Canada. USD/CAD should thus fall to 1.10 in three months".
Key Quotes
"Due to a jump in consumer prices in February 2013, markets expected the annual inflation rate to drop considerably this February. However, at 1.1% it was higher than expected. Further, retail sales in January have been robust despite the bad weather".
"All this helped the CAD to rebound from Thursday's 4-1/2 year low against the USD".
"We expect improving signs from the Canadian economy to reduce the risk of further easing from the Bank of Canada. USD/CAD should thus fall to 1.10 in three months".