Bank of Canada (BOC) will make a statement on December 8, 17:00 GMT+2.
Will the Bank of Canada hold the rate?
The Bank of Canada’s release of the interest rate is at 17:00 MT time on December 4.
The Bank of Canada announced a steady rate of 1.75% in the October session. Being the highest level since December 2008, it was considered appropriate for the current state of the economy. However, the governor Mr. Poloz said that the bank would be “mindful that the resilience of Canada’s economy will be tested” within the context of the global economic slowdown and the US-China trade conflict. The latter has shown certain advancements recently. Nevertheless, the uncertainty is still in place and the Canadian domestics indicators give mixed results on the economy’s status. We will see on Wednesday how optimistic the monetary policy makers are.
- If the BOC is hawkish, the CAD will rise;
- If the BOC is dovish, the CAD will fall.
The United States will publish Flash Manufacturing and Services PMIs on Tuesday at 16:45 GMT+2.
The main bank of Russian will likely turn hawkish today. Time to sell USD/RUB?
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.