Forex Flash: Economic data not enough to warrant BoC rate adjustment – RBS

FXstreet.com (Barcelona) - According to analysts at RBS, “We do not expect any policy shift by the Bank of Canada (BoC) at its policy decision on 17 April. In our opinion, the data since the 6 March decision is not enough to warrant a material change in policy in either direction. We also do not think the data in the past quarter is enough to cause BoC officials to dramatically alter their outlook in the quarterly Monetary Policy Report (MPR), which will be released at the same time.”

Additionally RBS comments, In particular, we continue to monitor developments particularly related to portfolio flows, given uncertainty amid external drivers and mixed domestic data. That said, for now we continue to look for USD/CAD to move closer towards parity.