FX Handover: Canadian CPI boots CAD ahead of FOMC

Fawad Razaqzada TradingCandles.com

Markets still buoyed by hints of Fed cut ahead of ECB and NFP

GBP has been the strongest so far on the day ahead of the BoE rate decision tomorrow after a slight beat in UK core CPI and as Boris Johnson softened his tone towards Brexit
CAD higher after Canadian Median CPI rose to 2.1% from 1.9% year-over-year. The headline CPI month-over-month figure printed 0.4% vs. +0.1% eyed.
Other commodity dollars lower as equities pause for breather and in holding pattern as investors await the Fed rate decision. With the markets discounting a (slight) chance of a rate cut, we could see a knee-jerk minor bounce in the buck and dip in stocks if the Fed stands pat.

Author

Fawad Razaqzada

TradingCandles.com

Experience Fawad is an experienced analyst and economist having been involved in the financial markets since 2010 working for leading global FX, CFD and Spread Betting brokerages, most recently at FOREX.com and City Index.

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