Previous Trading Days Events 09 Feb 2024

Labour marketrelated reports on Friday showed that Canada added 37K in January, more than double the expected figure, while wage growth slowed slightly and the unemployment rate edged down to 5.7 from 5.8 in December, posting its first decline in 13 months.

The job market still seems resilient, said Derek Holt, vice president of capital markets economics at Scotiabank. We saw wage growth cool in the latest month, but overall the trend is relatively hot.

The Bank of Canada BoC has kept its key overnight interest rate at a 22year high of 5 since July, as it strives to bring inflation back to its 2 target. Inflation was 3.4 in December.

Todays data suggest that the Bank of Canada wont be in a rush to cut interest rates, and we maintain our expectation for a first move in June, said Andrew Grantham, an economist at CIBC Capital Markets.

Source httpswww.reuters.comworldamericascanadaadds37300jobsjanuarywagegrowthslows20240209

Winners vs Losers

Silver is on the top of the winners list with 0.70 gains for the week while USDJPY leads this month with 1.47 gains. At the beginning of February, the dollar jumped and remained strong, however, it is currently showing weakness as days pass.

News Reports Monitor Previous Trading Day 09 Feb 2024

Server Time Timezone EEST UTC 0200

Midnight Night Session Asian

RBA Rate cuts possible even if inflation outside 23 target band as stated by the RBA Governor Michele Bullock…