Awaiting BoC & Canada Ivey PMI

Heads up for a DOUBLE Canadian release at 10:00 ET, 15:00 GMT, with the Bank of Canada interest rate decision and the Feb Ivey PMI, both expected to further weaken the loonie. BoC is seen tempering its hawkish tone and may go as far as dropping its readiness to raise rates. The Ivey PMI is expected at 56 from 58.9. Also worthy of note is the EMPLOYMENT component of the Ivey PMI, which has fallen below 50 for the last 2 months, for the 1^st time since Nov 2011. Our Premium Insights have pursued a long bias in USDCAD since early this year and there are currently two USDCAD longs in progress. For a more detailed fundamental & technical rationalisation of USDCAD and other pairs, please see our Latest Premium Insights.