When will the US go bankrupt? Will it start the market crash unseen before? We have plenty to share with you, so let’s get started.
The Bank of Canada May Push the CAD
What will happen?
The Bank of Canada will publish a rate statement and update on the interest rate on Wednesday, at 17:00 MT time. The statement normally contains commentary about the economic conditions and insights into further monetary policy decisions. A recent survey by the Bank of Canada showed improving business sentiment as vaccines roll out. This situation may indicate that the BOC is looking forward to more hawkish steps.
How to trade on the BOC Interest Rate Decision?
Due to analysts' predictions, traders need to pay particular attention to the changes made in the statement. If the Bank of Canada expresses readiness for an earlier-than-expected rate hike, the Canadian dollar may strengthen.
- If the BOC suggests tightening of its monetary policy, the CAD will strengthen;
- If the BOC expresses cautiousness, the CAD will weaken.
Instruments to trade: USD/CAD, EUR/CAD, CAD/JPY
It’s Wednesday, the froggy day for the whole internet. Here’s news that moves the market:
The US Consumer sentiment will shake the market today. We are back with more news for you to enjoy!
Saudi Arabia agreed to cut oil production. What will happen with the oil price now?
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.