{"id":64052,"date":"2023-06-07T10:57:20","date_gmt":"2023-06-07T07:57:20","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=64052"},"modified":"2024-07-10T16:58:27","modified_gmt":"2024-07-10T13:58:27","slug":"bocs-interest-rate-decision-in-focus","status":"publish","type":"post","link":"https:\/\/www.ironfx-id.com\/fr\/bocs-interest-rate-decision-in-focus\/","title":{"rendered":"BoC\u2019s interest rate decision in focus"},"content":{"rendered":"

During today\u2019s American session, the highlight will most likely be the BoC interest rate decision, with the bank expected to remain on hold, it may weaken the Loonie. Yesterday\u2019s building permits figure for April came in at a whopping -18.8% compared to the expected figure of -2.9%. Furthermore, this seems to have been supported by Canada\u2019s Manufacturing PMI figures yesterday, where despite the sector expanding as a whole, it did so at a slower rate than previously expected. This could potentially place a further burden on the bank today, yet market analysts are split on whether or not the bank will hike or remain on hold. In today\u2019s early Asian session, we note that despite China\u2019s trade balance worsening, it appears that their exports declined significantly to -7.5% on a yoy basis, yet Aussie traders seem to have found a silver lining, with China\u2019s imports improving from their previous rate of -7.9% to -4.5%.China\u2019s much better than expected imports rate seems to have mitigated the potential from Australia\u2019s GDP rate that may have been expected to weaken the currency. During the European session today, we note that Germany\u2019s industrial production improving on a mom basis, yet coming in lower than expectations may not slightly weaken the common currency despite the improvement. In tomorrow’s Asian session, Yen traders may be keeping an eye out for Japan\u2019s GDP rate for Q1, following statements by BOJ Governor Ueda that \u201cwhen achievement of price target is foreseen, we will discuss specifics of an exit policy and disclose information as needed.\u201d. The statements by the BOJ Governor, could potentially be perceived as indication of a gradual shift in the BOJ\u2019s ultra loose monetary policy at a faster pace that what was previously anticipated.<\/p>\n\n\n\n

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