- February 6, 2018
- Posted by: Joey Benedid
- Category: Market News
Global equities continue to get hammered in the wake of last week’s market pivot based off the U.S. jobs data. The market collective is now looking towards U.S. CPI numbers due out Feb 14 for the next point to ratchet expectations up or down on the FOMC hiking cycle for 2018. Before we get there we have central bank rate decisions in New Zealand & the UK later this week with no movement expected in either country which will keep most players focused on U.S. rate spreads to drive market movements.
USD/CAD is above 1.2500 in this backdrop as we continue to follow general market sentiment. Today’s Canadian trade figures are expected to show a negative balance of $2.3 billion for the month compared to -$2.5 billion for the previous month. The speed with which this USD positive turn has taken place has many caught off guard and a move higher cannot be ruled out in coming sessions.