Canadian jobs data beat expectations. Now what? ...Middle East

The Canadian labour market data beat expectations across the board with the market now seeing basically a 50/50 chance of a rate cut in June. Is this a major change though? Not at all. The gamechanger will likely be the CPI report due on May 21st when we will know if the BoC will indeed deliver the first cut in June or skip that month and wait for July. From a trading perspective, since this is not a gamechanger, the CAD gains should be limited as the market generally fades the first spike if it's not such a big deal. The CAD bulls might want to wait for a pullback into the 1.3690 region where they will have a better setup to structure a short trade as a break and extension to the upside sho

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Last updated : 10 May 2024 clock 04:01 PM

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Canadian jobs data beat expectations. Now what? ...Middle East

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