This week, Canadian investors will get the Bank of Canada’s latest rate decision as analysts expect the central bank to hold interest rates steady again. What else investors need to know today:
again on Wednesday, weighing the resilience of the Canadian economy against stress in the global banking system as it waits for inflation to recede.“The focus now shifts to whether disinflation trends can get back on track,” OANDA senior analyst Ed Moya said.
The day range on Brent was US$84.78 to US$85.66 in the early premarket period. The range on West Texas Intermediate was US$80.41 to US$81.22. OPEC+ surprised the markets recently when it decided to cut output. Traders had been expecting the group to keep production steady. Meanwhile, markets are keeping an eye on this week’s U.S. inflation numbers for clues about the Fed’s next move on rates and how close the U.S. central bank may be to pausing its tightening campaign.
The day range on the loonie was 73.92 U.S. cents to 74.14 US cents in the predawn period. The loonie is up about 1.7 per cent against the U.S. dollar over the past month.
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