The Canadian central bank will announce interest rates and make a speech on Wednesday, July 15, at 17:00 MT time. Also, the BOC press conference will be later at 18:15 MT time.
An opportunity to trade the Canadian dollar
The Bank of Canada will make its rate statement on December 5 at 17:00 MT time.
Last time the Reserve Bank of Canada lifted its interest rate to 1.75% in October, as widely expected. It was the third increase this year. The rate reached the highest level since 2008. As the USMCA agreement was reached, the BOC can suggest hints on further tightening of its monetary policy. We do not anticipate the rate hike this time, but the comments from the statement can increase the volatility in the market.
• If the BOC statement is hawkish, the CAD will rise.
• If the BOC statement is dovish, the CAD will fall.
Canada will publish the employment change and the unemployment rate on July 10, at 15:30 MT time.
The market sentiment is mixed. Let’s look at most interesting movements on the market today.
The RBA will make a rate statement on August 4 at 7:30 MT time.
The overall market sentiment is mixed as new virus cases continue rising throughout the world, but most economic indicators came out better than analysts expected. Let’s look at the main market movements.
The market sentiment switched to risk-off after the Fed’s Powell statement. The USD edged higher, while risker assets started falling after reaching quite high levels. Let’s have a closer look.