#bankofcanada

Canada's June jobs beat pulled USD/CAD to a two-week low and gave Canadian Dollar bulls a badly needed catalyst.

The Bank of Canada is stuck at 2.25% as recession fears clash with stubborn energy-led inflation risk.

Markets price 50 bps of BoC hikes, but the bank's patient tone leaves the Canadian dollar exposed against USD.

The BoC held rates at 2.25%, and CAD bulls may need a weaker US Dollar more than a fresh Canada growth story.

The Canadian dollar bounced because US CPI wasn't hot enough to lift the greenback. The BoC now owns the next USD/CAD move.