The tone from the Bank of Canada has softened lately and upbeat data are needed to intensify rate hike expectations.
More Quotes from Niels Christensen:
By saying China is a manipulator the U.S. would put more pressure on China to let the yuan appreciate faster and indirectly that would mean a slightly weaker dollar.Niels Christensen
Even though there was a reasonable GDP figure the market was unwilling to give the yen good support. There's a consensus building that the BOJ isn't going to move quickly and that means the good news for the economy isn't enough to boost the yen further.
Niels Christensen
There may be a few flows from some parts of Europe, but there are no major flows, and there's certainly no fresh news to trade, and there's been no surprises.
Niels Christensen
People are saying the report suggests that rates won't rise rapidly, and that's not positive for the yen.
Niels Christensen
Given that the dollar was unable to really bounce on the back of lower than expected trade deficit yesterday, it seems a bit unlikely that even if the retail sales show nice gains that (it) will be able to really benefit from such data.
Niels Christensen
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