Bank of Canada is Today's Main EventJanuary 22, 2014 Posted by: Joe O'Leary
Bank of Canada’s meeting and interest rate decision is the 'main event' for today. Bank of Canada Governor Stephen Poloz kept his main interest rate unchanged and said the direction of his next move will depend on the economy’s evolution, while predicting that recent weakness in the country’s dollar should aid exports. The Australian dollar jumped the most in a week after a government report showed inflation was faster than economists forecast, boosting bets the central bank will refrain from cutting interest rates. The euro approached a two-month low against the dollar on speculation the European Central Bank will cut interest rates to fight disinflation. The yen approached a one-week low against the dollar after the Bank of Japan pledged to maintain record stimulus. Thailand’s Prime Minister Shinawatra declared a state of emergency in Bangkok yesterday as an escalation of attacks on anti-government protesters threatened to derail elections.
• U.S. MBA mortgage market index rose 4.7% in data released earlier, along with a 3.6% drop in the purchase index and a 9.9% rise in the refinance index for the week ended Jan -17.
• U.K. unemployment unexpectedly dropped to 7.1% in November, contrary to the market expectation for an unchanged 7.3% reading.
• Australia Q4 CPI was higher than expected, rising 0.8%.
• Bank of Canada maintains its O/N rate at 1%
• French Business Confidence rises to 95 from 94.
01/23 CAD: Retail Sales (Nov.)
01/23 USD: Jobless Claims (week of 1/18)
01/23 USD: Leading Indicators/Existing Home Sales Reports (Dec.)
01/24 CAD: CPI (Dec.)
01/26 JPY: GDP Y/Y (Q4’13)
01/27 USD: Home Sales (Dec.)
01/27 EUR: German IFO Business Climate (Jan.)
01/27 USD: New Home Sales (Dec.)
01/28 GBP: UK GDP (Q4)
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