CAD traders heads up - Bank of Canada Governor Macklem speaking soon
Macklem will be speaking in parliament before an upper house committee. The boss pulls the night shift!
The BoC effectively bought a little time for loose monetary policy when its comments on tapering a few months back acted to support CAD, the gains for the currency have, in effect, been a defacto tightening (a little, not a lot).
With the FOMC on Wednesday indicating in its dots that Fed policy tightening may well be nearer than it thought (ForexLive Americas FX news wrap: Dots deliver a dollar boost) the free ride the BoC has enjoyed looks like its over.
A response from Macklem tonight (CAD time) to the FOMC, if he has one, is going to be of much interest. Coming up at 2230 GMT.