Morning Commentary & Currency Insights – February 27, 2018

Focus will be on today’s testimony from new FED Chair Powell on the Semi Annual Policy Report before the House Services Committee in Washington beginning at 8:30 AM EST.  He will read a prepared statement then the committee will hold a question & answer session.   Since nothing is scripted there will be headlines released in real time which may have some effects on the markets and create volatility.

USD/CAD will follow general market sentiment in reacting to Powell’s testimony.  The Liberal government will be releasing their annual budget at 4PM EST as well which is not expected to create concerns.