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Watching CAD after the recent jobs data, any thoughts on NZDCAD?
Bit of a head-scratcher with that latest Canadian jobs print. The market seemed to shrug it off initially, but I'm keeping an eye on how it percolates through. Makes me wonder about the $NZDCAD pair, currently around 0.82139. If the BOC decides to lean into a slightly more dovish tone eventually, there could be some room for NZD to push against the CAD, or am I overthinking it?
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I'm with you on that CAD jobs data – definitely more nuanced than the initial reaction. Regarding NZDCAD, if the BOC does soften its stance, you're right, there could be some upside for NZD, especially if the RBNZ remains relatively firm. Worth watching the rate differentials closely.