NBC Daily Forex : April 08, 2014
The National Bank of Canada | Apr 09, 2014 01:23AM ET
Political stability has been restored in Quebec for the next four years at least with the election of a Liberal majority government last night. This bodes well for our economy, as long as the scandals that marked the last few years remain scarce. The defeat of Pauline Marois’ pro-independence government will also help stabilize Canadian unity, thereby favouring our country’s economy and dollar.
The CAD gained ground against the USD, further to the release of a Bank of Canada survey that revealed that the job creation outlook in Canada was very encouraging.
BoC Governor Stephen Poloz took advantage of the opportunity to raise the issue of a key rate increase, specifying that it would essentially depend on exports and investments from Canadian companies, which, in his opinion, should increase as a result of the U.S. economy’s recovery and the weakness of the Canadian dollar. The inflation rate below 2% does not appear to be a source of concern for the moment. Today, we are keeping a close eye on Canadian housing market figures. Have a good day!
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