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14 Apr 2025

CAD in focus ahead of inflation and BoC meeting – Danske Bank

Tariff exemptions from the US offered temporary support to the dollar, but broader concerns about credibility and economic weakness continue to weigh. With market correlations breaking down and investor confidence shaken, USD pressure may persist in the near term, Danske Bank's FX analysts report.

BoC poised for insurance rate cut amid trade uncertainty

"This week will be eventful in CAD FX space, starting with the March inflation report on Tuesday, and culminating in the key event - the BoC meeting on Wednesday. Minutes from the last BoC meeting largely confirmed that the BoC would have paused in March if not for heightened tariff uncertainty."

"We don't think that the uncertainty has diminished since and thus expect the Boc to deliver another "insurance" 25bp rate cut. Markets are more tilted towards the BoC staying on hold, pricing in around 28% probability of a rate cut."

"Note that the BoC also releases its quarterly MPR, which naturally should remain relatively focused on tariffs and their spillover effects on the Canadian economy."

Apr 14, 2025

USD/CNH: Likely to trade between 7.2430 and 7.3700 for now – UOB Group

Chance for US Dollar (USD) to dip below 7.2700; the major support at 7.2430 seems to be out of reach. In the longer run, sharp but short-lived price action has resulted in a mixed outlook; USD is likely to trade between 7.2430 and 7.3700 for now.
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Apr 14, 2025

WH Economic Adviser Hassett: Making enormous progress on tariff talks with EU

In an interview with Fox Business Network on Monday, Kevin Hassett, Director of the US National Economic Council (NEC), said that they are making "enormous progress" on tariff talks with the European Union, per Reuters.
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