USD/CAD turns lower after earlier rise The Canadian dollar is suddenly sizzling. A rebound in oil prices, better risk sentiment, oversold conditions and broad US dollar weakness have led to an impressive rebound in the loonie.
Germany’s central bank comments to Bloomberg in response to the industrial production drop earlier in the day – Looking through volatility of monthly economic data ForexLive
Bostic comments More dovish stuff. There’s going to be a steady stream of this in the week ahead with many FOMC member slated to speak. The commentary from Evans and Bostic today is weighing on the US dollar and USD/JPY is now down to 108.58 from 108.90 early in New York trade.
Fed’s Evans speaks in Illinois The current fed funds rate is 2.00%-2.25%. The Fed projected two rate hikes in 2019 at the December meeting. That was down from three. The FOMC meeting minutes will be released a at 2 PM ET today.
Answer questions The Atlanta Fed president adds: A link to the speaking engagement can be found ForexLive
Comments by St Louis Fed president James Bullard doing the rounds – Fed bordering on “going too far” and pushing economy into a recession – If economy unexpectedly weakens, would be open to rate cuts ForexLive
PBOC governor Yi Gang comments via Xinhua News Agency – Will improve monetary policy transmission mechanism – To step up support of the real economy – Will provide long-term capital to smaller firms via targeted RRR cuts ForexLive
Shane Oliver of AMP (huge Australian fund manager – the fund, not Shane) cites his reasoning (in brief): Our view the RBA will cut the cash rate this year to 1%
The BoC decision for January 2019 will be announced at 1500 GMT on 9 January 2019 The consensus estimate is for no change to rates Preview via RBC:
The opening statement from Poloz ForexLive