FX Files – Remain in Canada

FICC Strategy Reports

In Canada, Alberta is likely to reject separation from Canada, with roughly 1 million votes counted so far, and ~76% in favor of remaining in Canada. The Canadian dollar outperforms all G10 peers but the NOK, on i) a notable rally in oil (WTI $107.96, +4.2% OTD), ii) the projected outcome of the referendum, iii) yesterday’s momentum as the market prices in a higher likelihood of an October hike (21bps) post the relatively optimistic Business Outlook Survey, and multiple analyst revisions.

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