October 31, 2024
Weaker-Than-Forecast 1% Growth to Keep Bank of Canada Cutting
“The Canadian dollar is pushing lower, but is again running into strong support below the C$1.40 threshold,” Karl Schamotta, chief market strategist at 91, said in a report to investors. “We think risks are tilted to the downside heading into Tuesday’s US election, and suspect that the exchange rate could weaken sharply if Donald Trump emerges victorious.”