David Powell Statement Quotations

My feeling is that while there may be a mention of (a stronger Canadian dollar), it's not going to be a focal point of the statement because they are less concerned now about Canadian dollar appreciation than they were a year ago. The economy has had time to adjust and get used to a stronger Canadian dollar.

I think overnight there was another focus on the bank of Canada statement and it pushed aside the oil sell-off, as monetary policy is probably going to have a longer term role than oil.

It's pretty much universally expected they'll hike 25 basis points but I think what will be more important is the actual wording of the statement where people will look for further indication of further hikes.

You can see that dollar/Canada's had trouble going below C$1.15. I think that's a reflection of the fact that the statement was somewhat less hawkish, and traders are less sure about the course of monetary tightening in Canada.