Press conference following the Bank of Canada rate decision has started.
BOC Gov. TIff Macklem and Senior Deputy Gov. are answering the questions from the press:
- Markets can count on us taking decisions one at a time.
- We will be assessing data relative to our outlook.
- Asked about statistics, Canada revisions to GDP says that StatCan as a very tough job.
- Improvement in the labor market is encouraging.
- Businesses are cautious about hiring investment plans.
- Recent jobs data as it changed the bank’s economic outlook.
What levels should traders watch through the press conference
Technically, the 100 hour moving average remains a short-term target to get above for a more bullish short-term bias shifts. On the downside the 50% midpoint at 1.3839 is the close support level that is broken would shift the short-term bias more to the downside.
This article was written by Greg Michalowski at investinglive.com.
