Job data for Canada: a relief or another disappointment?
Canada will publish employment change and an unemployment rate on Friday, at 15:30 MT time.
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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Volatility for the EUR is coming
Eurozone, France, and Germany will publish the flash services and manufacturing PMIs on February 19, from 10:15 to 11:00 MT time
Will the Canadian dollar rise?
The Canadian monthly GDP is announced on Wednesday at 15:30 MT time.
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