Canadian Market Outlook - Action Economics

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Yields have bounced 1 bp across the curve, but only after the 10-year yield hit a new one-year low at 2.09% on Tuesday. And USD-CAD has pushed to a six-week high at 1.0872, aided by broader strength for the greenback into the FOMC announcement. The market has been digesting mixed overseas data and the fresh round of Russian sanctions, but also encouraging easing in Eurozone credit standards. And U.S. stock index futures have bounced following Tuesday's weak close on Wall Street, helped by a number of earnings beats.

In a light domestic calendar, industrial product prices at 8:30am ET are projected to extend slowdown from the near-term peak seen in April. But the FOMC announcement will drive direction, along with U.S. data that includes Q2 GDP and ADP employment.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

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