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.
Trade on the comments by the BOC
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.
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