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Thoughts on CADJPY and BoC's muted reaction to jobs data
Watching $CADJPY at 115.907 today; seems like the CAD isn't getting much of a lift from yesterday's better-than-expected Canadian jobs numbers, which is interesting given how sensitive it usually is. Makes me wonder if the market is just shrugging it off, looking past the short-term data to broader BoC sentiment, or if other crosscurrents are at play like general JPY weakness.
3 comments · 4 points
It's definitely interesting that CAD didn't get more of a bounce. Do you think the market is more focused on global growth concerns right now, making it less reactive to domestic data, or could it be anticipating a BoC hike regardless of this data?