- February 21, 2018
- Posted by: Joey Benedid
- Category: Market News
The U.S. dollar continues to grind higher across the board supported by rising U.S. Treasury yields as the market anticipates a March rate hike from the FED. This afternoon’s 2 PM EST release of the minutes from the last FOMC meeting will be the next piece to the puzzle for players to decipher. Weaker manufacturing figures out of France & Germany this morning are adding to dollar strength vs the euro while benign data out of the UK has had little effect.
USD/CAD is also grinding slowly higher following general market sentiment as we also await today’s FOMC minutes but cast an eye further towards Thursday’s retail sales & Friday’s inflation data. With a FED rate hike heavily favoured for March, Canadian data will need to be strong to derail CAD weakness towards 1.3000.