Markets are listening
Disappointing U.S. indicators once again undermined the greenback’s performance. Durable Goods Orders and Consumer Confidence both fell short of expectations, corroborating the notion that economic growth in the U.S. has been rather timid since the start of the year. Combined with a solid rise in crude oil prices, this situation sent the loonie soaring back to its highest point in close to nine months against the USD.
This is the climate in which the Fed will announce its key rate decision at 2 p.m. today. The probability of a rate hike is next to nil, but markets will pay particular attention to the tone used in the statement, as investors will try to guess what the institution has in store for the coming months. Any new comments related to perceived risks by the Fed could lead to USD volatility. To take advantage of this possibility, why not place orders on the market?
