Currencies unchanged, markets unsure of China/U.S. trade truce

Even as the Bank of Canada has its meeting tomorrow, markets have already decided that there will be no rate hike. Analysts will be looking for what the Bank has to say about the coming new year. Expectations are for another rate hike in January, while the BoC might hold off after that. Meanwhile, investors around the world are cutting back expectations for policy tightening in the new year amid signs global growth is flagging. In Canada, tepid third-quarter GDP figures along with subdued oil prices are giving market participants reason to wager on a potential BOC pause. Signs of easing global trade tensions and a rebound in Canadian crude did little to sway traders Monday. The odds of a hike by January hovered around 60 percent, based on OIS prices, down from more than 85 percent last month.