CAD

Canada Ivey PMI index seasonally adjusted 52.0 versus 63.0 last month

• . The May Canada Ivey PMI index

Canada April trade balance -$1.05 billion vs -$1.40 billion expected

• Latest data released by Statistics Canada - 6 June 2024

USDCAD Technical Analysis – The rangebound price action continues

• The USDCAD pair whipsaws following the BoC rate cut but remains confined in the range. What’s next?

Bank of Canada rate cut - will cut again in July and 100bp in total for 2024

• Easily leaves open a 1.40-handled USD/CAD

Bank of Canada rate cut - the BoC isn't done, another 50bp of cuts in 2024, more in 2025

Bank of Canada rate cut - expect a further 75bp of cuts in the second half of the year

• Canadian dollar is likely to remain under pressure

WATCH LIVE: Bank of Canada Press conference

• The full opening remarks from BOC Tiff Macklem

USDCAD moves higher after Canada interest rate decision, but finding upside resistance

• Target area between 1.37146 and 1.37281

Canada labor productivity rate for Q1 -0.3% versus -0.2% last quarter

• Canada labor productivity rate for Q1 2024

Bank of Canada policy decision due Wednesday, 5 June 2024, 25bp rate cut expected

• A 25bp rate is widely expected, but not unanimously. Bank of Canada preview.

The USDCAD buyers are shifting the bias to the upside today & ahead of the BOC decision

• What would keep the bias in favor of the buyers today and going forward? What is needed to break the pair even more in the direction of the break?

USDCAD Technical Analysis – The 1.36 support holds once again

• The USDCAD pair remains stuck in a range as data comes out mixed. What’s next?

The risk is the Bank of Canada do not cut rates this week, but wait until July - preview

• The BoC meet on Wednesday, 5 June 2024. A rate cut is expected (but not unanimously)

Canada S&P global manufacturing PMI 49.3 versus 49.4 preliminary

• Canada's manufacturing PMI shows decline as output and new orders drop, while employment rises and input costs increase.

Market Outlook for the Week of 3rd - 7th June

• A busy week ahead with the spotlight on the BoC and ECB meetings, as well labor market data in the U.S.