Poloz and Lane to speak
The Canadian dollar has been whipped around this week by competing headlines on NAFTA along with yesterday's Bank of Canada decision.
The latest development is what appears to be a waiver for NAFTA countries on the steel tariffs while negotiations continue. That's somewhat of a threat but it sparked a relief rally in the loonie, barring the details.
Now the Bank of Canada is back on the agenda. First is Poloz at 1600 GMT (11 am ET) but I don't expect much from him. It's an event to unveil a new $10 banknote with the Minister of Finance. If anything, there are risks that Minister Bill Morneau could say something market moving.
The bigger event is a speech by BOC deputy lane at 2050 GMT (3:50 pm ET). It's a direct effort to shed light on the central bank's outlook.
"This is the first in a new series of Economic Progress Report speeches scheduled to follow the interest rate decisions that are not accompanied by a Monetary Policy Report. Delivered by members of Governing Council, these speeches will discuss how economic conditions and risks to the inflation outlook have evolved and provide insight into the key issues figuring in the deliberations about the rate decision," the BOC says.
For more on the Canadian dollar, here's what I had to say yesterday on BNN.