Eric Lascelles
Eric Lascelles
argue canadian cent conditions dollar facing fairly far people perhaps reflective somewhere suspect true type valued
Most people would argue the Canadian dollar is fairly valued somewhere in the 80-85 U.S. cent range, and we're not far from that. So I suspect the conditions manufacturers are facing right now are perhaps more reflective of the true long-term type of conditions they should expect.
bump canadian dollar evident oil perhaps prices wholesale
Perhaps part of the story for the Canadian dollar is the bump in oil prices and these wholesale numbers, but that's not all that evident in the fixed-income market.
auto few hesitant last mind quite sales shipments tend wildly
Keep in mind that auto shipments and sales tend to be quite volatile. They've been really going up and down pretty wildly over the last few months, and so I'd be hesitant to read too much into any one reading.
action certainly monetary picture policy supportive underlying
Basically, it's the same underlying picture and certainly supportive of the monetary policy action they've been undertaking.
bank beyond canada canadian closely continued employment huge increase interest labor number rates shows sit strength supports whether
There is huge strength in employment ? It shows continued strength in the labor market, which supports the Canadian dollar. The Bank of Canada may look closely at this number and sit up and think about whether they should increase interest rates further. There is probability they may go beyond 4 percent.
bank closely favorite quite sit
We've been told before that this is the Bank of Canada's favorite measure. So, the Bank of Canada, without question, is going to sit up quite closely and look at this release.
market report responding spots weak
There are some weak spots in the report and that's what the market is responding to.
bank canada excuse further halt next percent provide reports twin
Today's twin reports provide a further excuse for the Bank of Canada to halt at 4.0 percent after next week's hike.
begin canadian cold cooling further needed outlook poured report water
Today's report poured some further cold water on the outlook for the Canadian manufacturing sector, not that it needed any cooling off to begin with.
dollar obvious seem
It does look like a U.S. dollar story. There doesn't seem to be any obvious fundamental story.
canadian dollar paying piper question
There's no question manufacturers are paying the piper in some sense, in that they did get away with a lot over the 1990s when the Canadian dollar was weak.
bank canada certainly left tag
We certainly do think there are another two (rate hikes) left in the Bank of Canada before they tag out.
grim largely line report
This report was largely in line with expectations. It was a grim report.
aware bank cumulative fully hikes impact six
This ... suggests that the bank is well aware that the six consecutive hikes ... have a cumulative impact that has not yet been fully felt.