Canada's monthly GDP data and Poloz testimony in focus
A more constructive outlook from the BoC at its April meeting has caused the market to price out rate cuts and led to significant CAD strength in recent days. CAD weakness (since late 2014) had given the BoC some comfort…
A more constructive outlook from the BoC at its April meeting has caused the market to price out rate cuts and led to significant CAD strength in recent days.
CAD weakness (since late 2014) had given the BoC some comfort in the face of low oil prices, and recent strength will likely be seen as adding risks to the growth/inflation outlooks.
BoC Governor Poloz testimony in front of the House finance (Tuesday) and Senate banking (Thursday) committees will give an indication of how the central bank views recent market moves.
The market is looking for Canada GDP for February to decline 0.1% m/m on Thursday - a weak outcome is likely to invite fresh CAD shorts.
"We like being tactically short CADMXN spot", Says Barclays
Gold prices edged lower on Monday as stronger-than-expected U.S. nonfarm payrolls data dampened hopes for aggressive Federal Reserve rate cuts, bolstering the dollar. Spot gold slipped 0.1% to $2,686.32 an ounce, while F…
On-chain data shows BTC whales moved 10000 BTC from Crypto exchanges. This indicate accumulation of BTC by whales. Japanese public company Metaplanet buys another 1 billion yen worth of Bitcoin. According to Santiment, t…
Personal income increased by 0.2% month over month In August, which was less than the 0.4% market forecast and less than the 0.3% growth in July. For the third consecutive month, real personal disposable income increased…
