Mike's Musings, Jan 21




GBP Average Earnings Index: 1.7%(1.7%)

GBP Claimant Count Change: -24.2k(-29.7k)

GBP MPC Official Bank Rate Votes: 2-0-7(0-0-9)

GBP Unemployment Rate: 5.9%(5.8%)

CAD Wholesale Sales: 0.2%(-0.3%)

USD Building Permits: 1.06M(1.03M)

USD Housing Starts: 1.04M(1.09M)

CAD BOC Monetary Policy Report

CAD BOC Rate Statement

CAD Overnight Rate: 1.00%(0.75%)

CAD BOC Press Conference



Forward this email

Do you know someone who might be interested in receiving this monthly newsletter?

forward this email


Contact Us

#315 – 877 Goldstream Avenue, Victoria, BC, V9B 2X8
Phone: 250.483.4795250.483.4795
Toll-free: 1.888.989.46361.888.989.4636
Fax: 250.412.0252
Email: info@paylinebyice.com

Visit our Website:

Connect with Us!



You’re receiving this newsletter because you signed up for the Mike's Musings e-Newsletter?

unsubscribe now





The Loonie has fallen nearly 3% this morning on the back of the surprise Bank of Canada move to cut the key interest rate from 1% to .75%. Growth forecasts have also been reduced for the Canadian economy, from an expected 2.4% down to 2.1% for 2015. Oil prices being soft has now done significant damage to the Canadian economy, and with the US expected to raise rates in 2015, we could see a significant shift to USD strength for 2015.

Support: 1.2200, 1.2000

Resistance: 1.2390, 1.2500




The EUR remained steady overnight ahead of the ECB meeting. With speculation growing over the potential size of the QE program about to be launched, the currency remains vulnerable. The outlook continues to remain bearish for the EUR, even with a QE that is more to the moderate side of expectations.

The GBP remained steady as well, with some mixed data overnight. The unemployment rate dropped to 5.8%(the lowest in 6 years), however wage increases were lower than expected, and the BOE unanimously voted to keep the rates on hold at .5% for the first time since July. 

Written by mbrown@paylinebyice.com 



Our level of expertise and industry expertise allows Payline to provide its clients with rapid innovative solutions for all their foreign exchange and international payments.