Still speaking after BOC decision
- Economy has been extraordinarily strong in first half of the year. Moderation in second half is welcome
- reiterates there is no predetermined path for Interest rates
- every meeting should be seen as a live meeting. We are data dependence
- we have to evaluate data as they come in and see if they validate our outlook in real time
- Bank of Canada needs full budget to evaluate Trudeau tax break
The press conference is now over.
The price of the USDCAD moved to a low of 1.2777 during the press conference. That happened to be the swing high from the month of August. Good hold. The pair is trading to a new high as I type at 1.2812. The swing high going back to September 2016 comes in at 1.28207.
