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8 Jan 2014
Flash: Expect CAD to suffer this year - Danske Bank
FXstreet.com (Barcelona) - Danske Bank strategists note that CAD was sold off extensively yesterday after a major disappointment in the Ivey PMI.
Key Quotes
“Indeed, we look for the loonie to suffer this year as Bank of Canada may be forced to adopt an even more dovish stance.”
“Today Riksbank minutes may weigh on SEK as the release could put focus back on the discrepancy between pricing in the Swedish money market, seeing about 40bp rate hikes until April 2015, and the Riksbank's latest forecasts, which project 4bp downside over the same horizon (below the current 0.75 % repo rate).”
Key Quotes
“Indeed, we look for the loonie to suffer this year as Bank of Canada may be forced to adopt an even more dovish stance.”
“Today Riksbank minutes may weigh on SEK as the release could put focus back on the discrepancy between pricing in the Swedish money market, seeing about 40bp rate hikes until April 2015, and the Riksbank's latest forecasts, which project 4bp downside over the same horizon (below the current 0.75 % repo rate).”