The Canadian dollar continues to improve this week. Currently, the pair is trading at 1.3169, down 0.06% on the day. Canada will release ADP nonfarm payrolls and wholesale sales. In the U.S., the markets are expecting positive news. Durable goods orders is projected to post a strong gain of 1.6%, while unemployment claims is forecast to fall to 228 thousand.
The Federal Reserve has presented a dovish stance in 2019, and this position was underscored in the minutes from the January 2019 policy meeting. Participants reiterated that the Fed will remain cautious, stating that a “patient approach to monetary policy” was appropriate. However, members added that if economic projections improved, the Fed could revise the “patient approach”. The minutes noted that the employment market had strengthened and economic activity was rising, but expected GDP in 2019 to slow down compared to 2018.
Is a breakthrough around the corner in the U.S-China trade talks? The sides are holding a fourth round of talks in Washington this week. Talks are reportedly making substantial progress, as negotiators are preparing memorandums of understanding on key issues such as cyber theft and intellectual property rights. The trade war between the two largest economies in the world has triggered a slowdown in China and weighed on global stock markets. The U.S. has threatened to raise tariffs on March 1 if a deal is not reached, so there is strong pressure to reach a deal before the deadline. If the March 1 deadline is removed, traders can expect risk appetite to jump and the Canadian dollar to respond with strong gains.
Written by Admin
U.S. Federal Reserve Board Chairman Jerome Powell attends his re-nominations hearing of the Senate Banking, ...
Check out the companies making headlines before the bell:Travelers (TRV) – The insurance company reported ...
The crypto ecosystem has expanded significantly in recent years. While institutions such as the IMF ...