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Supply Side Keeps Up With Surprisingly Strong Jobs, June BoC Seen As 50/50

CANADA DATA

The April labour report was a reminder of the volatility that this data can see but also the large supply side gains that are more than keeping up with employment growth. This should help limit the market reaction to the beat, although BoC-dated OIS has still shifted closer to a 50/50 or even slightly lower odds of a cuts at the June meeting. The report adds weight to the upcoming CAD CPI on May 21.


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The April labour report was a reminder of the volatility that this data can see but also the large supply side gains that are more than keeping up with employment growth. This should help limit the market reaction to the beat, although BoC-dated OIS has still shifted closer to a 50/50 or even slightly lower odds of a cuts at the June meeting. The report adds weight to the upcoming CAD CPI on May 21.


Keep reading...Show less