USD/CAD: Hawkish BoC and higher commidity prices to propel the loonie – Commerzbank USDCAD Commodities Ukraine Banks BOC
, the Bank of Canada is set to embark on a path of hiking rates, providing support to the loonie, economists at Commerzbank report.“One support for the CAD recovery is likely to be the expectation that Canada, as a commodity country, will benefit from significantly higher commodity prices. In this context, Putin's war in Ukraine and the high uncertainty fuel the expectation that the supply shortage, will continue or even worsen – with the consequence of further rising prices.
“Expectations of interest rate hikes are likely to provide further support for the loonie. Inflation rates, which have already shot well above the Bank of Canada's target range, could accelerate further instead of drifting back toward the 2% target value as expected by the BoC from the second half of the year.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Gold Price Forecast: XAU/USD to bounce higher as Ukraine crisis fuels growth concernsGold defends critical support line as Russia-Ukraine war flags growth risks. What next? FXStreet’s Dhwani Mehta highlights the key levels to watch out
Les mer »
USD/CAD reverses back under 1.2700 as energy prices rally, market mood improvesUSD/CAD has been choppy and mixed on Monday as investors digest the latest wave of Western sanctions against Russia for its military incursion into Uk
Les mer »
Silver Price Analysis: XAG/USD well supported above $24.50 as West hits Russia with new sanctionsSpot silver (XAG/USD) prices are trading higher this Monday in the $24.50 region, up about 1.0% or roughly 25 cents on the day, underpinned by uncerta
Les mer »
GBP/USD Price Analysis: Grinds higher past 1.3400 but bulls remain unconvincedGBP/USD Price Analysis: Grinds higher past 1.3400 but bulls remain unconvinced By anilpanchal7 GBPUSD Technical Analysis SwingTrading ChartPatterns SupportResistance
Les mer »
USD/TRY grinds higher past $14.00 as USD cheers Russia-Ukraine related risk-aversionUSD/TRY grinds higher past $14.00 as USD cheers Russia-Ukraine related risk-aversion By anilpanchal7 USDTRY RiskAppetite Ukraine RussianFederation GDP
Les mer »
USD/CAD sticks to modest gains above mid-1.2700s, awaits fresh geopolitical developmentsUSD/CAD sticks to modest gains above mid-1.2700s, awaits fresh geopolitical developments By HareshMenghani USDCAD RussianFederation Ukraine RiskAversion Currencies
Les mer »