HSBC changes its mind and now expects BOC July rate hike

HSBC out with a note with revised expectations 11 July

  • now expects hike tomorrow and October
  • forecast revised from on hold til Q1 2018
  • expects rise from current 0.5% to 0.75% in Q3 and 1% in Q4

Plenty of hawkish talk from the Bank of Canada has markets expecting a hike tomorrow and that's led to CAD strength but Goldman Sachs has other thoughts on the matter.

Their view and others here

Immediate demand notable between 1.2850-80. Offers/res between 1..2950-80

USDCAD

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