News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Real Time News
  • Will be covering the Japanese #Yen to see how retail positioning could shape the outlook for $USDJPY, $AUDJPY and $EURJPY Starting in about 30 minutes! Signup for the session below: https://t.co/afqne77wU6
  • Join @ddubrovskyFX at 20:00 EST/00:00 GMT for a webinar on what other traders' buy/sell bets say about price trends. Register here: https://t.co/AzOQioRZER https://t.co/h2DAnqnY7J
  • #BlackRock: We are neutral U.S. equities. We see U.S. growth momentum peaking and expect other regions to be attractive ways to play the next leg of the restart as it broadens to other regions, notably Europe and Japan $SPX $NDX
  • #BlackRock: The new nominal theme leads to a steeper yield curve expectation than market pricing. We see yields rising gradually, keeping us broadly underweight government bonds, particularly for longer maturities #trading $TLT
  • BlackRock: We are overweight European equities, and neutral Japan #trading
  • Gold prices face off with rising Treasury yields as jobs data approaches. Meanwhile, iron ore prices caught a small bid on bullish port activity out of China. Get your market update from @FxWestwater here:https://t.co/A79cY6KvDI https://t.co/rJ0xqsUPu1
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here: https://t.co/8A1QhwvklO https://t.co/cRqAcvYkI8
  • #Blackrock: We are moderately pro-risk and keep some cash to potentially further add to risk assets on any market turbulence #trading $SPX $RUT $DJIA
  • RT @BrendanFaganFx: Natural Gas Outlook: Price Continues to Soar as Severe Winter Shortage Looms $NG $NG_F Link: https://www.dailyfx.com/forex/market_alert/2021/09/28/Natural-Gas-Outlook-Price-Continues-to-Soar-as-Severe-Winter-Shortage-Looms.html…
  • USD/CAD is set to snap a five-day sell-off with today’s rally breaking near-term downtrend resistance. Get your $USDCAD market update from @MBForex here:https://t.co/GhpA2pJJqL https://t.co/sDuE9WdDEg
Bank of Canada Holds Rates, Downside Inflation Risks Noted

Bank of Canada Holds Rates, Downside Inflation Risks Noted

Gregory Marks,

Notable Points:

-BoC keeps rates on hold at 1.00%

-Downside risks to Canadian inflation have growth more important

-2014 GDP growth prospects upped from 2.3% to 2.5%

-2015 GDP growth prospects lowered from 2.6% to 2.5%

-Average 0.9% inflation level in Q1 is expected

-Canadian economy to reach capacity in about two years from now

-Competition in the retail market is pushing down inflation

-CAD weakness should support exports

-CAD still strong despite recent depreciation

-BoC lifts U.S. 2014 growth prospects from 2.5% to 3.0%

The Bank of Canada kept rates on hold Wednesday as expected at 1.00% while raising growth prospects for 2014 and lowering those slightly for 2015. Once again, the central bank stated that policy moving forward is dependent on incoming data and that downside inflation risks have grown more important.

The YoY NSA CPI print for November slightly missed the 1.0% survey consensus, instead coming in at 0.9% and weakening the Canadian Dollar in December. The Consumer Price Index for the month of December is expected to come in at -0.2% MoM NSA and a highly disappointing print of -0.4% MoM for the core reading. With energy prices having come off the November lows, a beat here could lend some much needed support for the Canadian Dollar, although key technical levels continue to be broken.

USD/CAD continues to press fresh intraday and multi-year highs at the time of this report. Note upcoming event risk with Gov. Poloz’s presser at 16:15GMT and Canadian CPI on Friday.

Bank_of_Canada_Holds_Rates_Downside_Inflation_Risks_Noted_body_Picture_1.png, Bank of Canada Holds Rates, Downside Inflation Risks Noted

Gregory Marks, DailyFX Research Team

Keep up to date on event risk with the DailyFX Calendar.

How does a Currency War affect your FX trading?

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES