- March 13, 2018
- Posted by: Joey Benedid
- Category: Market News
The dollar index is marginally higher with most G7 currencies losing ground against the U.S. dollar ahead of CPI data this morning at 8:30 AM EST. Expectations are for a 0.2% rise month over month with a higher print sparking visions of a rate hike coming from the FED next week. The fear in the market is the specter of trade wars may keep the FOMC from raising rates as uncertainty can create concern. We also have Chinese industrial production data on tap for a 10 PM EST release.
USD/CAD has drifted higher in lack luster trading and will follow general market themes after U.S. CPI is released. We will then switch focus to BoC Governor Poloz’s speech at 10:15 AM EST titled “Today’s Labour Market and the Future of Work” at Queen’s University, in Ontario. A question period will follow so headlines will be parsed for anything indicating the Bank is moving away from a holding pattern on rates.