Markets Recover, BOC in Focus
The US dollar holds onto gains after falling for the past few days. Markets also recovered but concerns about the spread of coronavirus in emerging markets were weighing on sentiment. America’s improving situation is supporting Wednesday’s recovery.
The UK CPI came out at 0.7%, marginally below estimates. Producer prices surprised to the upside. Aussie also beat CPI estimates.
The focus shifts to the BOC decision. The Bank of Canada is set to leave its interest rate unchanged at 0.25% and is set to publish new economic forecasts. Governor Tiff Macklem will hold a press conference.
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