BOC’s Poloz: The trend has been a positive one for the labor market

Speaking to reporters during a press conference late Thursday, the Bank of Canada (BOC) Poloz said that the churn in labor market points to better job matches and productivity.

Asked about nov jobs data, says we don't put a lot of weight on individual data points, especially labor data.

Asked about possible insurance cut if jobs data falls for third month, says would not just look at employment, would look at other indicators, labor market tends to lag.

Central bank is seeing in global economy a bottoming out of most indicators.

Immigrants boost firm creation statistics which can often be a source of productivity.

When interest rates are negative fiscal policy is preferable to monetary policy.

Investment may have been boosted by special factors in third quarter.

Inflation on target suggests the BOC has done its job.

Side effects of low rates are not the bank's prime mission.

Macro prudential measures are there to address financial vulnerabilities.

Basel 3 changes make household sector and financial system more resilient.

Asked what government should be looking for in his replacement, says he is sure there are plenty of qualified candidates.

Movement on USMCA and government capital depreciation measures could be boosting investment in 2019.

He doesn't know what he will do when term ends.

The Canadian dollar trades firmer in tandem with its other commodity peers, rejoicing the trade deal optimism. USD/CAD drops -0.15% to trade around 1.3160 region, at the press time.

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.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD extends losses toward 1.1250 amid coronavirus concerns

EUR/USD is trading closer to 1.1250 as concerns about US coronavirus cases are growing. Eurozone finance ministers are meeting ahead of next week's summit.  US PPI and updated COVID-19 statistics are awaited.


GBP/USD pressured under 1.26 amid risk-off mood, Brexit uncertainty

GBP/USD is trading below 1.26, off the highs. Rising US coronavirus cases are pushing markets lower and the safe-haven dollar higher. Concerns about Brexit and the UK refusal to participate in the EU coronavirus vaccine scheme are weighing on sterling. 


Gold refreshes session tops, moves back above $1800 mark

The prevalent risk-off mood assisted gold to reverse an early dip to the $1796 region. A modest pickup in the USD demand might cap any further gains for the commodity. Investors also worried about the possibility of further escalation of Sino-US tensions.

Gold News

Canada Net Change in Employment June Preview: June is looking better and better

Job gains expected to more than double in June. Unemployment rate to drop to 12% from 13.7 in May. Ivey PMI was twice its forecast in June, highest since Nov 2019. USD/CAD would benefit from better June job figures.

Read more

WTI drops to fresh weekly lows below $39 amid virus risks, IEA forecast

WTI (August futures on Nymex) extends the steep declines seen on Thursday to drops over 1.50% in the European session this Friday. The oil bears breach the 39 level to hit the lowest levels in eight days at 38.76.

Oil News