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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."

EUR further weakness to materialise - Scotiabank

Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explains "Technically, EUR/USD studies are warning of a period of rest before there is enough momentum to push EUR to a fresh low.
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Risk aversion inching off - BMO Capital Markets

Stephen Gallo, European Head of Currency Strategy at BMO Capital noted that risk aversion has been inching off ahead of key data releases.
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