The Globe and Mail reports in its Wednesday, Sept. 25, edition that Goldman Sachs foreign exchange analyst Kamakshya Trivedi is bearish on the loonie. The Globe's Scott Barlow writes that Mr. Trivedi says in a note: "Most G10 central banks have cut to limit downside risks to growth, but the [Bank of Canada] has taken it a step further. Governor Macklem recently reiterated the need to see growth actually pick up in Canada, highlighting the BOC's more dovish reaction function compared to the Fed. This puts a larger burden on next week's GDP report to confirm any improvement in backdrop. We think the bar to a 50bp cut in November is low, primarily because of the high hurdle for the activity data and the latest softness in the labour market, but also because of the potential for a faster Fed cutting cycle. And, even though CPI is less in focus, if it continues to surprise to the downside or undershoot the BOC's target alongside sluggish activity, the committee could see a reason to speed up cuts. This outlook continues to support our call for USD/CAD longs, and we are raising the stop on our trade to $1.35 to protect recent gains and reiterate our target of $1.38, [which converts to 72.5 U.S. cents]."