The pound was the top performer while the yen lagged as risk trades strengthened. Later, Kuroda and several second-tier releases highlight the calendar. Today's new set of Premium Insights invilved 2 new trades in gold with 3 related charts, in addition to our longs in EURUSD, GBPUSD, USDCAD, USDCHF and AUDNZD.
USD/CAD rose about 40 pips following the Bank of Canada decision. The BOC maintained a slight dovish bias but there was nothing in the statement that screamed to buy the pair. If anything, across-the-board higher inflation forecasts due to rising energy prices and a softer loonie were a reason to sell USD/CAD.What stood out was the BOC emphasis that a pickup in exports and business investment is required to spur a sustainable recovery. The thing is, Poloz has been looking for that since he started at the bank and it hasn't come.