(James Skinner – PoundSterling)
The Canadian Dollar traded lower against the British Pound and US Dollar in London Tuesday as markets await the latest speech from Bank of Canada governor Stephen Poloz, although strategists see him doing little to relieve the Loonie from downward pressures that have recently pushed it to an eight month low against the greenback.
Stephen Poloz will address an audience at Queen’s University in Ontario at 14:15 London time with a speech on the modern labour market, which is to be followed by audience questions and a press conference.
Tuesday’s speech takes place against a backdrop of rising trade-related tensions that are overshadowing an otherwise robust economic performance from Canada, which saw the unemployment rate fall back to a record low of 5.8% in February. Click here to read more.
- Canadian Economy Carrying Untapped Potential (Bank of Canada)
- Oil Prices Fall on Relentless Rise in U.S. Crude Output (Reuters)