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Canadian dollar better, Bank of Canada Outlook positive

By MoneyWay | Oct 15, 2018

This outlook was based prior to the announcement of the NAFTA/USMCA agreement. The autumn Business Outlook Survey indicates that near-term business prospects continued to be robust. Strong demand and elevated capacity pressures support firms’ investment and employment intentions. The Business Outlook Survey indicator remains at almost record levels, consistent with widely held positive views on most indicators.

The Canadian dollar has responded positively to the BoC outlook, also there are rumblings that Saudi Arabia may threaten to use oil as a weapon in response to current criticism in regard to the missing journalist,(presumed dead), Jamal Kashoggi. While oil prices have not jumped, traders are generally nevous and oil could pop at a moment’s notice.

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