Headlines from the BOC
- Sales expectations for next 12 months improved modestly from previous week levels
- Foreign sales expected to gain momentum over next 12 months.
- Balance of opinion on investment plans rose. Scale of investment limited however
- Capacity pressure were roughly unchanged; below survey average
- Close to half of firms surveyed planned to add jobs in the next year
- Indicators of labor shortages moved up but were still low by historical standards
- Inflation expectations edged down. Remain concentrated in lower half of bank's target range
- Balance of opinion on credit conditions points to a marginal easing
- Overall business lending conditions were largely unchanged during third quarter
The USDCAD tumbled on the better than expected Canada jobs report but has since recovered more than half of the losses. The pair found support at the 100 hour MA (at 1.3184 currently) after falling below the 200 day MA at the 1.32089.
