Canada: Focus on trade data - BBH

Analysts at BBH note that Canada reports August (merchandise) trade today and the most important component will be non-oil exports, which have been soft.  

Key Quotes

“The implied yield on the December BA futures has eased to the lowest level in a month.  The market has taken the cues by BOC officials that sought to ease rate hike speculation in the face of strong growth after two hikes at the last two meetings have now unwound the 2015 cuts.  The US dollar was consolidating its recovery from about CAD1.2060 in early September to almost CAD1.2540 two days ago.”