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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 · 1 points
The CAD reaction definitely feels off. It's less about the jobs numbers themselves and more about the BoC being pretty clear they're not rushing to hike. That, combined with JPY's general state, just means good news for CAD isn't sticky.