BoC's Poloz: Labor market has been one of brighter spots over last 6 months

During a Q&A session in Ottawa, BoC's Governor Stephen Poloz stated that on many fronts, uncertainty has arguably increased since the U.S. elections.

More headlines (via Reuters):

  • Asked whether the bank was on track to hike interest rates before U.S. election, says 'no'
  • We will have to wait and see what sort of specific changes may occur to trade infrastructure
  • We must remain mindful of competitiveness issues of CAD against currencies other than U.S.
  • It's not uncommon when U.S. dollar is moving to see a correlation with CAD
  • Until we have actual downside risks being realized then it's appropriate to reach conclusion it's not time to add more stimulus
  • There was no compelling need to mention or not mention whether had discussed rate cuts or notI
  • In broad sense, putting trade architecture at risk has got the potential to be a negative shock, fiscal has potential for positive shock

EUR/USD rebounds and climbs toward 1.0700

EUR/USD rebounded after the beginning of the American session and erased most of the day’s losses. The pair bottomed at 1.0654, after the release...
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USD/CAD explodes above 1.3100, BoC's rate cuts on the table

Currently, USD/CAD is trading at 1.3181, up +1.05% on the day, having posted a daily high at 1.3169 and low at 1.3040. Trade policy and Donald J. Tru
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