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11 Aug 2014
BoC to become quite interesting - TD Securities
FXStreet (Guatemala) - Shaun Osbourne, Chief FX Strategist at TD Securities explained that there were no redeeming features in the Canadian labour market report released on Friday.
Key Quotes
"The outcome missed estimates by a mile and the make-up of the report—a big decline in full-time work and a drop in the participation rate accounting for the drop in the unemployment rate—added insult to injury”.
“The overall impression of a very sluggish labour market remains as Canadian businesses struggle to compete against lower or similar cost-structured economies where productivity is higher”.
“The poor run of labour market data in the past few months will make the next public pronouncements on the monetary policy outlook from the BoC quite interesting."
Key Quotes
"The outcome missed estimates by a mile and the make-up of the report—a big decline in full-time work and a drop in the participation rate accounting for the drop in the unemployment rate—added insult to injury”.
“The overall impression of a very sluggish labour market remains as Canadian businesses struggle to compete against lower or similar cost-structured economies where productivity is higher”.
“The poor run of labour market data in the past few months will make the next public pronouncements on the monetary policy outlook from the BoC quite interesting."