Posted Apr 22, 13:32
The Dam Cracks, ECB Up Next Apr 22, 2021 12:15:
Euro at the highs ahead of the ECB decision, with speculation of a possible surprise announcement to taper asset purchases. The Bank of Canada's decision to taper and hint at an earlier rate hike is a crack in the global central banking consensus. The surprise move was a big boost to the Canadian dollar--biggest percentage daily gain in 11 months. The ECB is up next. Announcement at 12:45 pm London, followed by the press conference 45 mins later. Traders should expect lack of unanimity regarding the decision, during and after the press conference.
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The Great Monetary Turn Begins Apr 21, 2021 14:53:
The pandemic led to the most-aggressive deployment of monetary policy in history but its success means it's already time for withdrawal, something that will begin with the Bank of Canada on Wednesday. The loonie lagged Tuesday ahead of the decision while the yen led the way as risk aversion struck. Canadian CPI came in under expectations, lifting USDCAD to new session highs of 1.2650s. The crucial BoC decision is next. Watch the 100-DMA in USDCAD @ 1.2670. Read More...
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