Canadian dollar may slightly higher await BoC

Euro was taking a breath early on Tuesday after rising 3-year high. CPI of EU at 17.00 p.m. on Wednesday may give the positive for euro, if it will be higher than 1.4%. While Canadian dollar may hold steady await at 22.00 p.m. - Bank of Canada monetary policy and interest rate decision. Normally, rising interest rate may give positive for the currency. In my opinion, Canadian dollar may edge lower, if BoC raise the interest rate as investor may sell to speculate CAD.
Australian stock market and currency may edge lower, if employment changes at 7.30 a.m. on Thursday 9000 jobs. In addition, major Asian stock market may hold steady waiting for GDP fourth quarter and industrial production in China at 9.00 a.m. on Thursday. According to the lower forecast of Chinese indexes, they may give negative for Asian stock market including SET.
World economic growth supports oil price rising high but U.S. crude oil inventories predicted higher so I suggest support line at 69$/barrel. While the United State economic indexes of fourth quarter forecasted weaker and some released indexes were not good. On Thursday at 20.30 p.m. will release building permit in December and manufacturing index in January which predicted lower. Hence, these indexes may give negative for greenback and Wall Street.
Pound may hold steady, if U.K. retail sales in December at 16.30 p.m. will be better than -0.6%. On Monday, South Korea government said that they will make a decision on a proposed ban on cryptocurrency exchanges after "sufficient consultation and coordination of opinions." While the director of Germany's central bank believes that Bitcoin should be regulated through an international set of rules rather than on a national scale.

By Niramon Nitnitiphruet
Financial analyst, Olymp Trade

Olymp Trade Review