CAD to rally on next BoC meeting?- Westpac

Analysts at Westpac explained their outlook for the CAD.

Key Quotes:

"The BoC meets next week (12 April) and while they’re unlikely to jettison downside risks given ongoing uncertainties around Trump’s trade and fiscal policies the BoC has no choice but to upgrade its 2.1% GDP growth forecasts for 2017 and 2018."

"Our data surprise index for Canada is at 18-yearr highs and while that is a point of vulnerability for CAD when it rolls over very little if any of the much improved growth pulse has been priced into CAD."