The Bank of Canada is data-dependent right now. If economic data continue to be good, it will continue to raise interest rates. The Canadian dollar will strengthen.
It's a pullback in commodities as well as a lack of data to fuel any sort of direction, and I think you're just seeing the continuation of a very short-term trend here.
If (Conservative leader Stephen) Harper wants to get any of his policies through, and he's put a lot out there... he's going to have to, for lack of a better term, make friends with at least 30 people in other parties.
We see another 25 basis-point rate hike next month. The central bank seems to be a little bit concerned the economy may be growing too fast. The Canadian dollar will continue to do well.
We will definitely see another rate hike next month. The Bank of Canada is somewhat concerned about the economy growing at full capacity. If economic fundamentals continue to be good, the Canadian dollar will continue to appreciate.
It's not so much the revision...as much as it is I think the markets are anticipating a revision for the next figure. In other words, you'll see this 193,000 probably revised up. That's basically overshadowing the headline number.
It's a quiet start to the day. The U.S. jobless claims aren't going to do it, neither is the housing price.
It gives such a signal that people may start to go long U.S. dollar and short the Canadian dollar.
There have been pretty solid economic numbers. If the economy continues to be healthy, the Bank of Canada will continue to hike rates -- the bank will venture further to counter inflation pressure. You will see the trend of a stronger Canadian dollar continues.
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