Bank of Canada Stephen Poloz will speak at Jackson Hole, Wyoming and may certainly impact the loonie. However, the risks are asymmetric.
Here is their view, courtesy of eFXdata:
Barclays Research discusses its expectation from BoC’s Poloz participation at Jackson Hole through the end of this week.
“This week, Governor Poloz participates in Jackson Hole. The gathering provides multiple opportunities for the BoC to send some signals about the timing of the next hike.
The risks for USDCAD are asymmetric: a dovish communication would reduce already elevated expectations and bring weakness for the loonie, while a neutral or hawkish stance would not provide additional support,†Barclays argues.
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