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Forex Flash: Watch out for CAD headwinds - HSBC

FXstreet.com (Barcelona) - David Bloom, Head of FX Strategy at HSBC warns investors to be careful of CAD headwinds.

He writes, “Recent developments have proven problematic for the CAD, from a more sluggish economy and slippage in some commodity prices, to yet another down scaling of the Bank of Canada’s tightening bias. Moreover, the less favourable shift in the fundamental backdrop suggests less CAD strength than we previously expected, and we have adjusted our forecasts accordingly.”

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