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What is BOC next step?

Olymp Trade

Investors started buying greenback after Yellen’s speech yesterday that supported the decision of increasing U.S. interest rate in December. Therefore, U.S. dollar and Dow Jones rose up on Tuesday. I think U.S. dollar may hold steady and keep rising up today but the Wall Street and gold price may drop down because of strong dollar.
U.S. crude lost 1.3% at the end of Tuesday but the oil market rebalancing continues as inventories fall and OPEC starts cutting supply. I think today Brent may rise up as the forecast of U.S. crude oil inventories (at 21.30 GMT+7) drop.
Thai stocks opened up 0.06% at the start of trade this morning and move flatly but it may keep staying in green zone supporting by energy stocks. I suggest to see the stock of financial industry as it may rise from the future policy of Fed and ECB. Furthermore, investors should focus the speech of the head of Bank of Canada at 22.45 and 23.55 as he may signal the future step of BoC. I think it may be positive for Canadian dollar as economic growth is good and currency becomes steady after the interest rate’s decision early in September.

Olymp Trade Review

Source: https://olymptrade.com
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