1101 ET - The prospect of an early election in Canada and shift in power to a Conservative government would benefit the local currency, Macquarie strategists Thierry Wizman and Gareth Berry say. The pair are more bullish CAD, arguing a resignation by Prime Minister Justin Trudeau would help move things along. Already CAD has made moves higher after reports Trudeau will soon announce he is stepping down and after polls continue to show the Conservatives carry sizeable support with voters. Macquarie says that if things pan out as expected, USD/CAD and EUR/CAD will lower by roughly 3%-4% respectively by end-1Q, and it no longer believes that 1.44 is the "center of gravity" for USD/CAD in 2025. (robb.stewart@wsj.com)
(END) Dow Jones Newswires
January 06, 2025 11:01 ET (16:01 GMT)
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