Bank Of Canada Rate Hike, FOMC And Debt Limit Extension Rock The Markets 7-9-2017

U.S. Lawmakers Agree On Debt Limit Extension. The dollar recovered from its recent dive on an extension of the debt limit deadline to December 15 to make way for Harvey disaster bill and resignation of FOMC member Fischer due to personal reasons.

The Loonie Stands Tall After Rallying On BOC Hike And Upbeat Canadian Data. The Bank of Canada decided to hike interest rates by 0.25% instead of staying put for the second time this year. That gave the Canadian a strong boost across the board, on top of the pickup in crude oil prices in anticipation of better than expected EIA inventory data. Upcoming Canadian jobs release could garner a lot of market attention as this could make or break future hike speculations.

Euro Awaits ECB’s Policy Decision Due Later On Thursday. The euro held firm on Thursday ahead of a European Central Bank policy meeting. The euro edged up 0.1 percent to $1.1928 , although it was still trading below last week’s high of $1.2070, its highest level since January 2015.

Watch Out Today For:

09:00 am GMT: EUR Gross Domestic Product

11:45 am GMT: EUR ECB Interest Rate Decision

12:30 pm GMT: EUR ECB Monetary Policy Statement And Press Conference

BY MEX Group Team

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