Free Trial

Dep Gov Gravelle Remarks at 1235ET

CANADA
  • BoC Dep Gov Gravelle’s remarks for the Economic Progress Report are published shortly at 1235ET, before the speech starts at 1250ET followed audience Q&A and then by media availability at ~1410ET.
  • Ahead of his remarks, watched to see whether there is greater pushback of cut pricing (circa 15bps cumulative cuts for March), GoCs outperform Treasuries across 2s and 5s. The Can-US yield differential of -55bps hasn’t closed lower since first ripples from SVB’s failure.
  • CAD has notably underperformed G10 FX today in the backdrop of USD weakness. USDCAD has extended yesterday’s modest gains, at 1.3604 off an earlier high of 1.3619.
  • It marked a move closer to resistance at 1.3648 (50-day EMA) whilst trend conditions remain bearish with support at 1.3480 (Dec 4 low).

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.