More from BOC Macklem:
- We would like to see growth pickup above the 2%
- If there is further adjustment in the labor market it would probably be more unemployment
The USDCAD has not gotten any boost from comments from BOC Macklem. The price in fact is trading to new lows (higher CAD) and is pips away from the low from August at 1.34396. That low is the lowest level since March . A move below would have traders targeting recent lows from February and March at 1.3412 to 1.34192.
Moving back above 1.3465 is needed to give dip buyers some short term love now. That was the low from August 30 and September 6.
This article was written by Greg Michalowski at www.forexlive.com. Source