More from BOC Macklem
- If the BOC needs to do more, there are tools available
- Options include lowering effective lower bound
- Bar to go into negative territory is very high
- US economy is proving quite resilient
- Households using higher savings to pay down debt
- Canadians spending savings represents upside risk
- BOC estimatesC$150B in new savings in a Canada
- Fiscal support absolutely necessary in recovery
- C$ appreciation a significant and material and is on our radar screen
- 1st quarter GDP could go negative
- Evolution of excess supply will be critical factor
The USDCAD has moved to a new session low of 1.2681. The price dipped below the 2020 low at 1.27060 earlier today and is extending. A lower channel trendline comes in at 1.2675. Below that is a lower trendline crediting across at 1.2650.
