Bank of Canada decision and Beige Book are the highlights
The theme at the moment is US dollar strength. A bit has arrived in the last 30 minutes and it has pushed EUR/USD down to a test of yesterday's post-ISM lows. The dip lower in USD/JPY on BOJ discord is also slowly retracing. The lows was 101.21 and it's scaled back to 101.63.
What's getting hit hardest is oil. It had been up substantially but now it's slipped into negative territory as the bulls flee on signs of a dollar bid.
The range so far in USD/CAD is 1.2831 to 1.2862. The BOC decision is at 1400 GMT but there is no prospect of a move in rates and expectations for any kind of shift in rhetoric are slim. We'll have more later. For now, here is a chart the BOC doesn't want to acknowledge.
Other events on the economic calendar include a raft of BOE speakers, including Carney, in parliament at 1325 GMT. At 1400 GMT, there's the JOLTS report and at 1800 GMT it's the Beige Book.
