CAD remains under pressure, despite the positive speech by Stephen Poloz

24.04.2018 / 00:04

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Bank Of Canada governor Stephen Poloz confirmed the strong economic growth of the Canadian economy but failed to get bulls to buy Canadian dollars. Poloz's speech did not differ from the previous, and perhaps that was the reason why the Canadian's reaction was extremely weak.

Here's what Poloz mentioned during his speech:

- The economy is close to its full potential.
- Higher inflation will be due to temporary factors.
- The interest rate increase will be justified over time and Bank Of Canada will remain cautious about the rates.
- Bank Of Canada will continue to keep economic data.
- Higher interest rates will be needed over time.
- The greatest risk to prospects remains protectionist trade policies.
- We believe that investment in the oil sector will remain stable, and this will support CAD.
- We believe the Canadian property market is recovering and there are no signs of a bubble.

Trader Petar Milanov

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CAD remains under pressure, despite the positive speech by Stephen Poloz

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