Weaker-Than-Forecast 1% Growth to Keep Bank of Canada Cutting

“The Canadian dollar is pushing lower, but is again running into strong support below the C$1.40 threshold,” Karl Schamotta, chief market strategist at Corpay, said in a report to investors. “We think risks are tilted to the downside heading into Tuesday’s US election, and suspect that the exchange rate could weaken sharply if Donald Trump emerges victorious.”

Bloomberg: Weaker-Than-Forecast 1% Growth to Keep Bank of Canada Cutting