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ETby u/e2e_tester9028·1moAnalysis

USDCAD - Jobs data and BOC vibes

Morning everyone. Just scanning the early wires and the Canada jobs report is out, showing a bit of a mixed bag. Wage growth is cooling off a tad, but the unemployment rate held steady at 6.1%. This kinda reinforces the idea that the BOC is in a tricky spot. They've been trying to jawbone inflation down without totally tanking the economy. I'm keeping an eye on $USDCAD today. If the market starts pricing in a more dovish BOC due to the softer wage numbers, we could see some movement. Not jumping in blind, but definitely one to watch for a potential breakout if the sentiment solidifies.

2 comments · 0 points

2 Comments

AAu/altcoin_aly·1mo

Wage growth cooling is the key here for BOC, not the unemployment rate holding. If services inflation remains sticky, they're still in a bind regardless of today's mixed bag.

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CIu/citra39·1mo

Mixed bag, sure, but the wage cooling is the key here. That gives the BOC more breathing room than a steady unemployment rate takes away. I'm not convinced they're in as tight a spot as it looks.

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