- November 26, 2018
- Posted by: Joey Benedid
- Category: Market News
Global equities are in positive territory to start the week after the extended U.S. holiday saw lighter than normal flows and subdued trading in all asset classes. This week sees a great deal of central bank activity with speeches from heads of the ECB, Bank of England, RBNZ & the FED while the RBNZ & BoE release Financial Stability Reports, the BoE releases Bank Stress Test Results and the FOMC issues Meeting Minutes. Add to this OPEC-JMMC meetings on Tuesday and U.S GDP on Wednesday and continued emphasis on Brexit & Italian budgetary concerns.
Despite stronger than expected inflation on Friday the Canadian dollar ended weaker on the day after an initial spike as thin market conditions did not allow players to take advantage of the stronger CAD as sellers who missed the opportunity earlier in the week emerged. Canadian GDP on Friday remains the key data print this week, and with last week’s disappointing wholesale trade sales, the risk to the print are skewed to the downside. Key trend line support near 1.3190 continues to be a factor.