The Canadian central bank will make a monetary policy report and announce interest rates on Wednesday, January 20, at 17:00 MT time. Also, the BOC press conference will be held later.
BOC Rate Statement
|The Bank of Canada is keeping the interest rate unchanged since January 2018. Although the central bank is not anticipated to raise the rate this time, it will likely do it later this year. That is why it is important to listen to the BOC report and look for hints about its future monetary policy. A hawkish sounding speech will signal an approaching rate hike. Follow the BOC’s statement at 17:00 MT time on May 30.|
US stocks and oil slipped as Donald Trump threatened not to sign a long-awaited stimulus bill into law. The market sentiment had been already fragile, and Trump’s comments worsened it even more.
Canada's retail sales will be out on Friday at 15:30 MT time.
The market optimism waned amid stricter restrictions to control rising coronavirus infections. S&P 500 and Nasdaq dropped from the all-time highs, while the USD jumped higher.
S&P 500 skyrocketed to the all-time high on optimism that Biden’s fiscal stimulus will support economic growth and boost corporate earnings.
PMI reports from the EU, the UK, and the USA will be released during the day!