CAD: Focus on BoC’s Deputy Governor Schembri's speech - TDS

Analysts at TDS suggest that markets will focus on Bank of Canada Deputy Governor Schembri's speech on "Canada's approach to price stability."

Key Quotes

“While his speech may be heavy with academic rhetoric, we will be watching for any further hints about "running the economy hot," which may come in the context of a discussion around the symmetry of the inflation target. Schembri's speech will be published at 13:30 ET and an audience Q&A will follow.”

“Existing home sales for January will also be released in the morning and are likely to show a pullback driven by weakness in Toronto and the impact of new mortgage regulations. ADP employment for January will be published at 8:30 ET and will be scrutinized against the LFS report which showed 88k jobs lost during the month.”