Waiting for the December 16 FOMC Decision
Today we will be monitoring the minutes of the last Federal Open Market Committee meeting carefully. As you recall, after last October’s meeting, speculations about a monetary policy tightening ramped up again, and this boosted the U.S. dollar. It will therefore be interesting to discover the arguments evoked by Committee Members during this meeting.
Furthermore, today several influential members of the Fed will be making speeches. Few expect any change in tone, despite the release of inflation figures in the U.S. that were slightly below the expectations of economists. In other words, analysts are expecting that these speeches will contain clues pointing to a first key rate hike in December, and this could bolster the greenback somewhat. For sellers of U.S. dollars, this could therefore represent an interesting opportunity to implement some hedges.
Regarding economic indicators, several releases related to real estate numbers in the United States are expected, whereas there is not much on the board for Canada.
