BoC Deputy Governor Lane Speech in Saskatoon - Live

The Bank of Canada Deputy Governor Timothy Lane will be giving a speech titled "How Canada’s International Trade Is Changing with the Times," before the Saskatoon Regional Economic Development Authority at 18:00 (GMT). There will also be a Q&A session at the end of the event.

Earlier this month the BoC surprised markets by making a 25 basis points rate hike, pushing the USD/CAD pair to its lowest level in more than 2-years. In its statement, the Bank said, "recent economic data have been stronger than expected, supporting the Bank's view that growth in Canada is becoming more broad-based and self-sustaining."

Key Notes:

USD/CAD renews daily tops around mid-1.22s as greenback gathers strength

The USD/CAD pair gained traction during the first half of the NA session and extended its gains above the 1.22 handle to reach a fresh daily top 1.2245. As of writing, the pair was trading at 1.2242, gaining 0.42% on the day.

Fade rallies in USD/CAD – Scotiabank

FX Strategists at Scotiabank recommend fading occasional rallies in the pair in the near term.

About Timothy Lane

"Timothy Lane was appointed Deputy Governor of the Bank of Canada, effective February 2009. In this capacity, he is responsible for overseeing the Bank’s analysis of international economic developments in support of monetary policy decisions. As a member of the Bank’s Governing Council, he shares responsibility for decisions with respect to monetary policy and financial system stability, and for setting the strategic direction of the Bank," as published on bankofcanada.ca.