Posts Tagged ‘Bunge’

Notes From Underground: Bank of Canada raises rates + robust Ivey PMI = Canadian Dollar gets a boost

September 8, 2010

The BOC raised rates 25 basis points today as it attempts to remove the stimulus it provided while the world financial system was under extreme stress. The statement from the bank was mildly hawkish and because the market was unsure of the bank’s intensions, the LOONY went immediately bid. An hour later, the IVEY PMI was released and the data was much more robust than anticipated. All in all a very positive day for Canadian fundamentals.