With surprising results of fall in unemployment rate, the Canadian dollar moves to a strong position of six-week high. Among the 16 major fellow currencies, the Canada was able to make it at 10 after the data showed the increase in addition of workers.
Speculations are more on the CA with the Bank of Canada expected to meet on next month April 16th. Investors are keeping a keen eye on the recent quote by the BOC Governor, Stephen Poloz that the central bank will reduce the rate in case of any weakness in the economy. Investors speculate that a neutral speech by the BOC Governor, Stephen Poloz rather than staying dovish will fetch some more gains to the Canadian dollar.
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