Eric Lascelles
Eric Lascelles
bank beyond canada canadian closely continued employment huge increase interest labor number rates shows sit strength supports whether
There is huge strength in employment ? It shows continued strength in the labor market, which supports the Canadian dollar. The Bank of Canada may look closely at this number and sit up and think about whether they should increase interest rates further. There is probability they may go beyond 4 percent.
arising bank canada certainly concerned continues pressures suggest
(The survey) certainly continues to suggest that the Bank of Canada need not be concerned about inflationary pressures arising from manufacturers.
alive canadian continue economy positive
The Canadian economy is alive and well and will continue to grow. This will be near-term positive for the Canadian dollar.
business canada continues grow moderate sector
The business sector in Canada continues to grow at a moderate pace.
canadian confront continues elevated fact including input muscular prices report sector spectrum testament wide
(The report is) a testament to the fact that the Canadian manufacturing sector continues to confront a wide spectrum of challenges, including elevated input prices and a muscular Canadian dollar.
appears business conditions continued light likely sector sour survey trend
The manufacturing sector continued to struggle. And in light of the sour business conditions survey ... that trend appears likely to continue.
grim largely line report
This report was largely in line with expectations. It was a grim report.
bank canada certainly left tag
We certainly do think there are another two (rate hikes) left in the Bank of Canada before they tag out.
argue canadian cent conditions dollar facing fairly far people perhaps reflective somewhere suspect true type valued
Most people would argue the Canadian dollar is fairly valued somewhere in the 80-85 U.S. cent range, and we're not far from that. So I suspect the conditions manufacturers are facing right now are perhaps more reflective of the true long-term type of conditions they should expect.
action certainly monetary picture policy supportive underlying
Basically, it's the same underlying picture and certainly supportive of the monetary policy action they've been undertaking.
came confidence flip michigan price producer university weak
We did have a weak University of Michigan confidence index ... but on the flip side, you had the producer price index, which came in a little strong.
dollar obvious seem
It does look like a U.S. dollar story. There doesn't seem to be any obvious fundamental story.
bank closely favorite quite sit
We've been told before that this is the Bank of Canada's favorite measure. So, the Bank of Canada, without question, is going to sit up quite closely and look at this release.
market report responding spots weak
There are some weak spots in the report and that's what the market is responding to.