FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

GoCs Rally and USDCAD Steps Higher On Jobs Report

CANADA
  • GoC yields coming slightly off lows after the jobs report but still down 7-8bps through 2-10Y tenors since the release. For context though, the 2YY still remains 11bps higher than before Wednesday's BoC decision to hike 25bps.
  • USDCAD marginally trims the jump higher, now about 30 pips off lows at 1.335 having been probing recent support levels and close to key support in the very low 1.33s. However, the move only unwinds the drop seen through the European session as CAD had been outperforming most majors pre-release.
  • There was a surprising miss for jobs growth (led by full-time positions) and the unemployment rate rose from 4.99% to 5.15% so only slightly worse than consensus of 5.1 on an unrounded basis.
  • Partly countering this was hourly wage growth for permanent employees coming in as expected at 5.1% Y/Y.
HomepageBulletMarketsFixed Income BulletsForeign Exchange BulletsCanada Bank of Canada Market News

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.