Dovish Bank of Canada Restrains The Canadian Dollar, Says ING

-- The Bank of Canada held rates steady at 2.25% on Wednesday, as expected, said ING.

USD/CAD briefly traded on the strong side after Wednesday's BoC announcement, although market pricing did not shift meaningfully, noted the bank.

Expectations remain for a 25bps rate hike at the October meeting, so more hawkish than ING's baseline call.

Wednesday's relatively dovish BoC endorses the bank's end Q2 call for 1.37 in USD/CAD. ING sees some downside risks to that forecast, given resilience in equity markets and oil prices remaining more elevated than longer.

However, for now, the bank is assuming there will be a period of elevated uncertainty around CUSMA trade deal renegotiations in June, leading to upward volatility in the pair.

ING expects better Canadian dollar (CAD) performance in H2 2026, when a new CUSMA deal could ultimately be agreed and the Federal Reserve should cut rates.

The bank predicts 1.34 by year-end in USD/CAD, with risks to the downside.

Australia9分钟前

瑞银表示，如果经济企稳，通用汽车2026年的业绩有望超过预期。

瑞银在周三发送的一份报告中指出，如果经济企稳，通用汽车(GM)有望超越其2026年的业绩预期，并且成本控制、电动汽车盈利能力、更优化的车型组合以及股票回购等因素有望推动其盈利在2027年进一步增长。报告称，投资者对大宗商品成本和需求风险的担忧忽略了通用汽车更强劲的执行力、灵活性和支出控制能力。瑞银表示，通用汽车的业绩展望略显保守，因为该公司并未在其业绩指引中纳入高利润皮卡和SUV可能进行的补货。瑞银指出，尽管美墨加协定(USMCA)贸易谈判并未纳入其业绩展望，但该谈判更有可能对通用汽车有利而非不利。瑞银维持对通用汽车的“买入”评级，并将目标价从105美元下调至102美元。Price: $76.08, Change: $-2.87, Percent Change: -3.63%

$GM

Research10分钟前

CGI维持对加拿大国家银行的“跑赢大盘”评级和150加元的目标价，理由是“极具吸引力的价值”、符合预期的第二季度业绩以及“较为清淡的预订量”。

Price: $90.23, Change: $-10.41, Percent Change: -10.34%

$GIB-A.TO

Oil & Energy16分钟前

Dovish Bank of Canada Restrains The Canadian Dollar, Says ING

相关文章

瑞银表示，如果经济企稳，通用汽车2026年的业绩有望超过预期。

CGI维持对加拿大国家银行的“跑赢大盘”评级和150加元的目标价，理由是“极具吸引力的价值”、符合预期的第二季度业绩以及“较为清淡的预订量”。

布伦特原油期货价格上涨7.5%，至每桶119.52美元，创2022年6月以来新高。