September's cut is priced in. Your hedge ratio shouldn't be.
The market has decided what the Bank will do this month. It has not decided what that means for the currency, and neither should your policy.
Sample note. Connect the Notion database to replace it with the desk’s own writing.
The market has decided what the Bank of Canada will do this month, and the front end of the curve reflects it. What it has not decided is what that means for the currency, which is why USD/CAD has moved less than the headlines suggest it should.
A hedging policy is not a forecast. If your ratios were set for a calm year and this is not one, the answer is a conversation with the board, not a trade.
We are taking calls on this all week.
Commentaire général du pupitre sur le marché, et non un conseil en placement ni une offre de transaction. Les taux affichés sont la moyenne quotidienne de la Banque du Canada pour la date indiquée et sont donnés à titre indicatif; demandez une cotation ferme au pupitre.
Lisez le marché avec un cambiste.
Une question sur une note, ou sur votre propre exposition : la ligne est ouverte pendant les heures de négociation.
Parler à un cambisteDE 8 H À 17 H HE, DU LUNDI AU VENDREDI