GBP – Sterling strengthened on Tuesday, supported by strong employment data, which fueled market expectations for sooner Bank of England rate hikes.
Indeed, ING argues that “this morning’s UK jobs report continued to signal tightness in the labour market and accelerating wage-growth dynamics, which support the prospect of another hike by the Bank of England on Thursday.”
CAD – The Canadian dollar weakened on Tuesday, pressured by declining oil prices, with WTI falling as much as 8% due to a combination of easing supply concerns as Ukraine/Russia peace talks continued and less demand from China due to rising coronavirus cases.
Indeed, ING argues that “this morning’s UK jobs report continued to signal tightness in the labour market and accelerating wage-growth dynamics, which support the prospect of another hike by the Bank of England on Thursday.”
CAD – The Canadian dollar weakened on Tuesday, pressured by declining oil prices, with WTI falling as much as 8% due to a combination of easing supply concerns as Ukraine/Russia peace talks continued and less demand from China due to rising coronavirus cases.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.