- November 20, 2018
- Posted by: Joey Benedid
- Category: Market News
Overseas equity indices are lower after U.S. stocks fell yesterday on iPhone concerns and ongoing Sino/American trade tensions. EUR is trading lower on the continuing Italian/EU deficit clash with Italian Deputy PM Di Maio commenting the EU is acting like a wall towards Italy’s “reform efforts.” Sterling is also on the slide despite rebel MP’s in May’s governing party being unable to move ahead with a no-confidence vote with the Democratic Unionist Party ramping up pressure on the government citing broken Brexit promises.
USD/CAD remains within recent ranges ahead of BoC Senior Deputy Governor Wilkins’ speech today about public policy issues and monetary policy frameworks at Max Bell School of Public Policy, in Montreal. This will be watched for hints as to whether the recent drop in oil prices has changed the BoC’s thinking regarding hikes, but expect her to reinforce the Bank’s data dependency.