Posted Oct 22, 23:11

BoC No Reason to Buy CAD, China PMI Next

Markit Manufacturing PMI (OCT) [P] Oct 23 13:45
Markit PMI Composite (OCT) [P] Oct 23 13:45
Markit Services PMI (OCT) [P] Oct 23 13:45
PMI (OCT) [P] Oct 23 01:45
Eurozone Markit PMI Composite (OCT) [P] Oct 23 08:00
Eurozone Markit PMI Manufacturing (OCT) [P] Oct 23 08:00
Eurozone Markit Services PMI (OCT) [P] Oct 23 08:00
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6 hours ago: 

The Canadian dollar rallied after the Bank of Canada decision but there was nothing in the documents pointing to a more hawkish BOC. The US dollar led the forex market on the day while the euro lagged. The NZD is lower in early Asia-Pacific trading on CPI data. CAD took the attacks in Canada's parliament in stride, while the major news of the week will likely be tonight's China flash HSBC manufacturing PMI and tomorrow's services PMI from the Eurozone. A new set of Premium Insights will be released tonight. All two GBPUSD remain in progress and nearing the final targets, following the BoE minutes and Thursday's UK retail sales. AUDUSD and NZDJPY also remain in progress.

The main headline from the BOC was the removal of the explicit “neutral” reference but it was simply replaced by other words that say the exact same thing. Moreover, Poloz warned that explicit forward guidance would be removed before the decision so it should have been no surprise.

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PREMIUM INSIGHTS Update: Oct 23, 0:36
 
 
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