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US home sales and Canadian wholesale trade data in focus - TDS

FXStreet (Delhi) – Ned Rumpeltin, European Head of Currency Strategy at TD Securities, suggests that the week is off to a rather quiet start as markets continue to digest the Fed’s decision last week to wait on raising rates and we have only the US existing home sales and Canadian wholesale trade reports on tap.

Key Quotes

“With little in terms of scheduled data releases, investors will look to a fairly full slate of central bank speakers for direction today. Today is particularly heavy for remarks from ECB policymakers, with Coeure, Nowotny and Praet all scheduled to speak.”

“Atlanta Fed President Lockhart (centrist, voter) will also speak on the state of the US economy, but we will be particularly interested in comments from Bank of Canada Governor Poloz. While the stated topic, “Riding the Commodity Cycle: Resources and the Canadian Economy”, appears fairly neutral we think his remarks could touch on monetary policy. In the wake of the dovish Fed message last week, we and the markets will be looking to see if the BoC follows suit.”

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