The Fed will be front and centre today, with the release of its key rate decision at 2 p.m. Once again, markets do not anticipate a rate hike, with Fed Chair Janet Yellen holding steady at 0.25%. Investors will have to turn to the statement accompanying the decision to scour for hints of any change in monetary policy. Despite the positive economic performance in recent months, it would be surprising for the Fed to take its foot off the accelerator due to the recent freefall in crude prices and the instability in numerous other assets. After eight days of stock-market corrections, the S&P 500 is showing green this morning. Meanwhile the loonie remains at its lowest level in the past five years. In addition to the Fed, at 8:30 this morning, we will be keeping an eye on Canadian Wholesale Sales, expected at 0.2% for October, as well as U.S. Inflation for November, expected at 1.4%.
Have a great day!
Xavier Villemaire
- Range of the day: 1.1600 - 1.1765