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Brown Brothers Harriman’s (BBH) Global Head of Markets Strategy Elias Haddad expects Canadian inflation to ease in January, supporting a steady Bank of Canada policy rate at 2.25% for some time. The bank’s projections point to inflation near target in Q1.
💡 DMK Insight
Canadian inflation easing could signal stability for the loonie and impact crypto markets like ADA. If inflation trends downward, the Bank of Canada might maintain its policy rate at 2.25%, which could strengthen the Canadian dollar. This stability can lead to increased investor confidence, potentially drawing capital away from riskier assets like cryptocurrencies. For ADA, currently at $0.28, this means traders should watch for any correlation between CAD strength and ADA price movements. If the CAD appreciates, ADA could face downward pressure as investors seek safer havens. On the flip side, if inflation remains stubbornly high, the Bank may need to adjust rates, which could create volatility in both the forex and crypto markets. Keep an eye on the upcoming inflation data and any statements from the Bank of Canada, as these will be crucial for shaping market sentiment. Traders should monitor ADA’s support levels around $0.25 and resistance near $0.30, as these could indicate short-term trading opportunities based on broader economic shifts.
📮 Takeaway
Watch for Canadian inflation data; if it eases, ADA could face downward pressure, especially if CAD strengthens against USD.
