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USDCAD northwards bound after BoC - BNP

FXStreet (Delhi) – Research Team at BNP Paribas, expect US-Canada front-end rate differentials to move in favour of the US dollar by year-end and continue to target USDCAD at 1.4000 by early 2016.

Key Quotes

“The BoC’s balanced statement on Wednesday contrasted with the downward revisions to growth in the Monetary Policy Report. We think markets are not pricing in sufficient risk of further BoC easing in the coming months.”

“The US data calendar remains light while Fed speakers are in a blackout period ahead of the October 28 FOMC meeting. Jobless claims could gather some attention after a sizeable drop the previous week, while we expect existing home sales to bounce by 1.7% m/m consistent with other data showing positive momentum in housing. North of the border, Canadian retail sales are expected to rise by a modest 0.1% m/m.”

ECB QE dilemma reincarnated as downside risks to growth and inflation in the euro-zone prevail - MUFG

Lee Hardman, Currency Analyst at MUFG, suggests that the ECB is expected to leave its monetary policy unchanged but reiterate that it has moved closer to easing monetary policy further.
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USD/JPY stabilizing near 119.80

The Japanese yen is posting decent gains vs. its American peer on Thursday, now taking USD/JPY to the 119.80/70 area...
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