What is moving the markets today?
Tag - cad - canadian dollar
USD/CAD is eyeing 1.2900. What’s next?
What’s happening? S&P dropped, the AUD dropped, while USD/JPY skyrocketed!
Take the opportunity and follow the release of Canadian GDP on January 29, at 15:30 MT time!
Asian equities traded mixed and attempted to shrug off the weak handover from the US where there was a slight negative bias.
President Joe Biden is expected to sign a new “Buy American” order, underlining the essential continuity of US trade policy despite the radical change of tone expected from Donald Trump’s administration.
Asia-Pac bourses took impetus from the gains on Wall Street where stocks rallied to all-time highs and the Nasdaq outperformed.
S&P 500 skyrocketed to the all-time high on optimism that Biden’s fiscal stimulus will support economic growth and boost corporate earnings.
The Canadian central bank will make a monetary policy report and announce interest rates on Wednesday, January 20, at 17:00 MT time. Also, the BOC press conference will be held later.
Global stocks were mostly lower on Monday, following the weakness on Wall Street on Friday that stemmed from the weaker-than-expected retail sales report for December.
Asian equity markets began the week cautiously after Friday’s losses on Wall St. Mixed Chinese GDP added to the tentative mood for stocks.
USD/CAD continues dipping. Follow US jobless claims and the speech of Fed’s Powell!