Bank of Canada's Governor Tiff Macklem Speech reflects the official position of the BoC on the monetary policy and interest rate change trends, therefore every speech is carefully examined by the market participants and analysts.
If the Governor's rhetoric suggests possible developments in the future monetary policy, such as the upcoming tightening or easing, this may have a short-term effect on the Canadian dollar quotes. If Tiff Macklem positively characterizes the country's labor market or states the inflationary growth, this can be seen as positive for CAD quotes.