Focus on BoC, US housing starts and the Fed's Beige Book - BBH

Sandeep Kanihama FXStreet Contributor

Research Team at BBH, suggests that the North American session features the Bank of Canada meeting, US housing starts and the Fed's Beige Book (ahead of the early November FOMC meeting).

Key Quotes

“The Bank of Canada is not expected to change policy, but downward revisions in its economic forecasts and pushing further out when the output gap is projected to close will likely give a dovish cast to the stand-pat policy. The market appears to be pricing in steady policy next year.

Bloomberg's calculation puts the odds of a November Fed hike at 17.1% and December at 53.2%. Like our interpolation, the CME estimates the odds at 8.3% for November and 60% for December. Neither the housing starts nor the Beige Book will likely change this materially.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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