Market updates on September 12
ECB meeting is on the agenda. Will the EUR get weaker?
How will the Canadian dollar react to the BOC meeting?
The Bank of Canada (BOC) will release its statement and publish the official rate on September 4, at 17:00 MT time.
The changes to the interest rate are not expected, but we will be looking for the clues on the next steps by the bank. Some of the analysts expect the BOC to throw the hints on the possibility of a rate cut, citing the trade uncertainty between the US and China and worsened economic outlook. Thus, any dovish comments will pull the Canadian dollar down. So, let’s wait for the outcome of the meeting.
• If the Bank of Canada is hawkish, the CAD will rise;
• If the Bank of Canada is dovish, the CAD will rise.
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The British pound falls further ahead of the Cabinet meeting
The news that opposition lawmakers plan to stop Boris Johnson to leave the European Union without a deal increased the political uncertainties in the UK.
The market awaits NFP
The level of non-farm payrolls (NFP), also known as non-farm employment change will be published on September 6, at 15:30 MT time.
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Market updates on September 13
The retail sales for the US in focus today
"Buy the rumor - sell the fact" action for USD/TRY
During today's Turkish central bank meeting, the market anticipated a rate cut between 200-300 pips.
Traders await the releases for the USD
The USA will publish the level of retail sales and core retail sales on September 13, at 15:30 MT time.
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