My feeling is that while there may be a mention of (a stronger Canadian dollar), it's not going to be a focal point of the statement because they are less concerned now about Canadian dollar appreciation than they were a year ago. The economy has had time to adjust and get used to a stronger Canadian dollar.
More Quotes from David Powell:
The wording was that monetary policy is still stimulative, which implies further rate hikes down the line. And this morning, when capacity utilization was released, that definitely augured well for another rate hike.David Powell
That would serve to make the liquidity even thinner. Who knows how many people actually came to work today
David Powell
Canada's trade balance tends to attract less attention given that it's in pretty healthy shape. But going into the (U. S.) trade balance, I imagine the market is positioned short dollars because it's forecast to widen. Risks are skewed towards a larger deficit.
David Powell
You can see that dollarCanada's had trouble going below C1.15. I think that's a reflection of the fact that the statement was somewhat less hawkish, and traders are less sure about the course of monetary tightening in Canada.
David Powell
This should help the greenback continue the rally experienced over the last few weeks and leave the market focusing on further dollar gains related to a potential move of the fed funds rate to 5.00 percent.
David Powell
We're particularly conscious of the need to help spouses. Usually the diplomats will be able to speak the language, whereas spouses might not. So it can be a very isolating experience. So we do try to give a lot of support through what we call community liaison officers.
David Powell
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