Everybody and their momma expect the Bank of Canada (BOC) to reduce interest rates this week!
But our Event Guide for the September BOC Monetary Policy Decision suggests that the move may be widely priced in, leading to muted dovish reaction for the Canadian dollar.
If Gov. Macklem and his team confirm a less dovish easing trajectory, EUR/CAD and CAD/JPY’s setups might provide opportunities for Loonie traders:
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