USD/CAD: Unemployment rate is expected at 6.7% vs. 6.6% in January – BBH
|Canada’s February labor force report will help shape rate expectations ahead of next week’s Bank of Canada (BOC) policy setting meeting, BBH FX analysts report.
Liberal Party to choose a successor to Prime Minister Justin Trudeau
"Consensus sees a 20k rise in jobs vs. 76k in January, while the unemployment rate is expected at 6.7% vs. 6.6% in January. Overall, the labor market remains soft and firms’ hiring intentions are muted."
"Markets price-in 80% odds of a 25bps BOC policy rate cut at the March 12 meeting given the drag to growth from tariffs uncertainty. Still, we expect the BoC to pause easing next week because core inflation (average of trim and median CPI) is tracking above the BOC’s Q1 projection of 2.5%."
"On Sunday, Liberal Party members will choose a successor to Prime Minister Justin Trudeau. The new leader is expected to face a vote of no confidence once parliament reopens on March 24 which will trigger snap federal elections."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.