Market Brief January 17th: Interest Rate Decision from Canada


Bitcoin

Tuesday the virtual currency took a hit and slid to test the support at 11,300 which is pivotal. The virtual currency lost as much as 18% of its price among increasing rumors of stricter regulation coming from South Korea. The news affected other rival crypto currencies as well- Ethreum dropped a significant 23% to test the immediate support at $978. Slowly, ether strated to recover in the late hours of Tuesday afternoon.

European Union,

EUR 10:00 a.m. GMT (YoY) (Dec) – The Consumer Price Index measures inflation from a consumer perspective, by showing the change in the price of goods and services. Expectations are for no change at 1.4% during December 2017 compared to the reading that came out during the same time the year before. If the actual news shows an increase, this should strengthen the euro while a lower performance could have a negative effect on the currency.

Canada

CAD, 15:00 p.m. GMT, BoC Monetary Policy Report – the report is released on quarterly basis and gives a detailed account of the rationale behind the Central Bank’s decision (i.e. the specific economic conditions) that influenced the interest rate set by the bank.

CAD, 15:00 GMT BoC Interest Rate Decision – this is the big event of the day! One of the most market – moving events come from interest rate decisions for major economies. The forecast points to an expected increase at 1.25% which is an expected increase of 0.25 from 1.00%. If the actual increase takes place, this could give an extra push to the Canadian dollar and should be read as a bullish sign. And, vice versa, if there is an unexpected cut, this could result in the U.S. dollar strengthening against its Canadian counterpart.

 

Wishing you Happy and Successful Trading!

 

Risk Warning: The information above constitutes Marketing Communication and does not constitute Investment Advice or Investment Research. The content of the analysis represents the view of our experts on a generic basis, and do not take into consideration individual readers personal circumstances, investment experience or current financial situation. In addition, the analysis above has not been prepared in accordance with legal requirements designed to promote the independence of Investment Research. Readers using the above information should consider the possibility of encountering substantial losses. Therefore, UR Trade Fix Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the above analysis.”  Further to the above ,Forex Trading involves a substantial Risk of Loss and may not be suitable for all Investors. Please see our Website for details regarding UR Trade Fix Limited’s Trading Terms, Policies and Offerings.Read more.

Comments

comments

You may also like

LEAVE A COMMENT

Join our webinars

Join our webinars

Download the app - Android

Download the app - Android

Download the app - IOS

Download the app - IOS