The 13 December USDCAD Fundamental Drivers Expectations shows that the Canadian dollar has been on a sharp downward spiral for nearly a week. Find out why.
13 December, OctaFX – A deluge of market-moving events will make headlines on Wednesday, as all eyes turn to the Federal Reserve’s final policy meeting of the year. In the United States, the Labor Department will issue its official consumer price index (CPI) at 13:00 GMT. Annual inflation in the world’s largest economy is expected to rise 2.2% annually in November, following a 2% gain the previous month.
The Federal Open Market Committee (FOMC) will deliver its rate verdict at 19:00 GMT. Policymakers are widely expected to vote in favour of a 25 basis-point increase in the federal fund’s rate, bringing it to 1.5%.
The Fed will also release a revised summary of economic projections covering GDP, unemployment, and inflation. It will be the last projection under the guidance of Chairwoman Janet Yellen. In February, she will be replaced by Fed governor Jerome Powell.
13 December USDCAD Fundamental Drivers Expectations
The Canadian dollar has been on a sharp downward spiral for nearly a week after the Bank of Canada tempered expectations about future rate hikes. The USD/CAD approached 1.2900 on Tuesday but has since tempered its gains. Prices were last seen consolidating around 1.2852, having declined 0.2% from the previous close.
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