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FXStreet - The Foreign Exchange Market - Economy
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BoC Governor Macklem: We're not being as forward-looking as normal
Bank of Canada (BoC) Governor Tiff Macklem addressed reporters’ questions, offering insights into the central bank’s monetary policy outlook. His remarks came after the BoC lowered its interest rate by 25 basis points to 2.50%, a move that markets had broadly anticipated.
Gold Price Forecast: XAU/USD drifts from record highs, $3.660 support on focus
Gold is trading lower on Wednesday, weighed by generalised USD strength, as investors cut short Dollar positions ahead of the Fed’s decision. The Precious metal turned lower from the $3,700 record high, with bears contained above the $3.6660 area so far.
WTI Price Forecast: Oil consolidates between 21-day and 50-day SMAs
West Texas Intermediate (WTI) Crude Oil edges higher during the American session on Wednesday after trimming intraday losses. At the time of writing, WTI is trading near the $64.00 mark, but the recovery lacks follow-through as the commodity struggles to extend gains for the fourth straight day.
USD/CAD Price Forecast: Edges higher ahead of BoC-Fed policy outcome
The USD/CAD pair ticks up to near 1.3760 during the late European session on Wednesday. The Loonie pair gains marginally ahead of monetary policy outcomes by the Bank of Canada (BoC) and the Federal Reserve (Fed) during New York trading hours.
Norway Forex Today: Norwegian Krone hobbles ahead of uncertain Norges Bank decision
The Norwegian Krone (NOK) remains in the spotlight ahead of the decisive Norges Bank interest rate decision scheduled for Thursday at 08:00 GMT. The EUR/NOK pair is trading around 11.60, up 0.3% on the day, after hitting 11.54 last week, its lowest level in three months.
USD steadies into FOMC – Scotiabank
The US Dollar (USD) is showing signs of stabilization heading into Wednesday’s FOMC, with modest gains against most of the G10 currencies as it attempts to claw back a portion of this week’s losses, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
US Retail Sales rise 0.6% in August vs. 0.2% forecast
Retail Sales in the United States (US) increased by 0.6% on a monthly basis in August to $732 billion, the US Census Bureau reported on Tuesday. This print followed the 0.6% increase (revised from 0.5%) recorded in July and came in better than the market expectation of 0.2%.