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Markets awaiting on FOMC results

By MoneyWay | Mar 20, 2019

There are no expectations of a rate hike, however, analysts will be looking to see what the FED is going to say about future rate movements. Indications are for a “wait and see” attitude with some reiteration of ready to move when called for. That being said, the longer the U.S. economy stays in a slow growth pattern, less chance of a rate hike.

The Canadian dollar is unchanged even with oil close to $60 USD a barrel, the unexpected drop in inventory numbers gave the boost to oil. It’s likely the Canadian dollar will remain in a holding pattern till after 11:00 am, when the FED comes out. All things being equal then the Canadian dollar will likely rally.

Currently             Close                     Range

USDCAD               1.3330                   1.3320                   1.3316-1.3347

EURCAD               1.5137                   1.5122                   1.5116-1.5160

GBPCAD               1.7600                   1.7674                   1.7523-1.7688

                                                                                                Prior                      Actual

US: Petroleum Status Report wk3/15                      

                Crude Oil                                                              -3.9M Brls            -9.6M Brls

                Gasoline                                                              -4.6M Brls            -4.6M Brls

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