There is huge strength in employment ? It shows continued strength in the labor market, which supports the Canadian dollar. The Bank of Canada may look closely at this number and sit up and think about whether they should increase interest rates further. There is probability they may go beyond 4 percent.

We've been told before that this is the Bank of Canada's favorite measure. So, the Bank of Canada, without question, is going to sit up quite closely and look at this release.

Today's twin reports provide a further excuse for the Bank of Canada to halt at 4.0 percent after next week's hike.

We certainly do think there are another two (rate hikes) left in the Bank of Canada before they tag out.

The Bank of Canada may look closely at this number and sit up and think whether they should go further. There is a probability they may go beyond 4 percent.

I don't think this is going to cause the Bank of Canada to differ in its ways. We still think 4 percent (overnight rate) is the likely peak for them.