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The Bank of Canada (BOC) will present its monetary policy report and make the rate statement on January 9 at 17:00 MT time.
The market expectations of the rate hike are low, however, the comments by the bank of Canada governor Stephen Poloz may support the Canadian dollar. Last comments by the BOC governor Mr. Poloz were not very certain due to the fall in the oil prices and the trade war between the US and China. As the output cut by the OPEC+ has started since the beginning of the year, the central bank of Canada may sound more confident this time.
• If the BOC is hawkish, the CAD will rise;
• If the BOC is dovish, the CAD will fall.
The risk sentiment remains under pressure after the comments by China about the countermeasures against the US tariffs. Thus, the AUD/USD and the USD/JPY pairs will be under our attention.
During the European trading session, both the US and the UK yield curves inverted.
Levels for Wednesday's trading
On Monday, crypto assets tumbled due to the fact that the Organization for Economic Cooperation and Development drew attention to the necessity of the global regulation of initial coin offerings…
German exporters demonstrate ascending optimism as for their business prospects because growing demand from other euro zone countries helps to compensate worries regarding the strengthening currency, as the Ifo economic institute told on Wednesday…
In October, Japanese machinery orders rebounded with a faster soar than anticipated, thus re-affirming the resilience of capital spending, which is a major driver in the Japanese economy's almost two-year expansion…
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