Testimony
Gov. Stephen Poloz:
- Economy is about 50% more sensitive to interest rates
- We believe investment in oil sector will remain flat
- drop in housing from pull-forward effect to reverse
- fundamentals of Canada housing markets remain solid
Sen. Deputy Gov. Carolyn Wilkins:
- We believe real estate markets are rebounding
- Signs of speculation is declining housing market
- BOC needs about 1 year to assess B-20 rule changes.
The USDCAD has dipped a bit as the market digests the comments.
The 200 bar MA on the 4-hour is at 1.2019. The 50% is at 1.28256. The current price trades at 1.28354 after trading as high as 1.2858.