- March 20, 2018
- Posted by: Joey Benedid
- Category: Market News
Markets have been relatively quiet overnight and will likely remain so until tomorrow afternoon’s FOMC rate announcement takes place at 2 PM EST. UK inflation data came out roughly as expected having little to no effect on the Pound while nothing earth shattering has emanated out of the G20 meetings being held in Argentina. With little else to go on markets will remain stagnant barring any random Tweets, firings or headlines.
USD/CAD has stayed above 1.3050 and traded within a 30 point range as buyers line up ahead of 1.3000 and sellers loom above 1.3100 for the time being. NAFTA headlines have been taken in stride as the road to some sort of agreement being hashed out seems to be what all parties are currently moving towards. Position squaring may occur over the next 24 hours as players tone down risk appetite ahead of the FED.