FOMC Meeting and Bank of Canada’s Rate Decision Tomorrow, 24 May 2017.
This article is originally referred from FXGiants News.
Bank of Canada’s Interest Rate Decision to be made tomorrow.
What to expect? Here is FXGiants expect from tomorrow’s meeting.
- Policymakers maintained a neutral tone the last time they met, balancing every upbeat comment about the economy with a worried follow-up remark.
- The key message we got was that economic data are improving, but the Bank thinks it is too soon to alter its stance, mainly due to uncertainties related to trade.
- Shortly after that policy meeting the US imposed tariffs on Canada, so we consider it likely that the BoC will maintain, if not amplify further, its concerned message.
US FOMC Meeting
The Federal Reserve’s meeting minutes will be released at 21:00 MT time on May 24.
The document will provide us with a detailed record of the FOMC’s most recent meeting and in-depth insights into the policymakers’ views on the national economy.
As a result, we will find out how close the central bank is to raising interest rates.
The US dollar is usually very responsive to any hawkish/dovish wording of the minutes.
A lot of traders will be looking forward to the publication of this release expecting that it will determine the direction of the USD.
Original Source: FXGiants News