Currency market on December 6: the NFP Friday
Black Friday for the currency market: the Non-Farm Payrolls are out!
Will the Bank of Canada hold the rate?
The Bank of Canada’s release of the interest rate is at 17:00 MT time on December 4.
The Bank of Canada announced a steady rate of 1.75% in the October session. Being the highest level since December 2008, it was considered appropriate for the current state of the economy. However, the governor Mr. Poloz said that the bank would be “mindful that the resilience of Canada’s economy will be tested” within the context of the global economic slowdown and the US-China trade conflict. The latter has shown certain advancements recently. Nevertheless, the uncertainty is still in place and the Canadian domestics indicators give mixed results on the economy’s status. We will see on Wednesday how optimistic the monetary policy makers are.
- If the BOC is hawkish, the CAD will rise;
- If the BOC is dovish, the CAD will fall.
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Currency market on December 6: the NFP Friday
Black Friday for the currency market: the Non-Farm Payrolls are out!
Currency market on December 5
The GBP is surging, the AUD inched lower and the MXN has strengthened
Boris Johnson drives the GBP up
The British pound has rallied versus the other major currencies on the growing expectations that Prime Minister Boris Johnson would win a majority at December 12 election.
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