Markets are waiting after less than half an hour for the Canadian interest rate decision which is widely expected that BoC to raise interest rates to 1.75% as the Canadian economy progresses but the NAFTA remains the threat to the economy.
On the other hand, the euro hit its lowest level in two months, following signs of a possible slowdown in economic growth in the euro area, as business indicators slowed faster than expected this month.
The EURUSD is currently testing the 1.14 levels and is expected with stability to recover some of its recovery to 1.15 levels again.
Also, the pound hit its lowest level in six weeks before the British prime minister Theresa May, met with conservative party lawmakers, some of whom discussed her toppling because of their anger over the Brexit negotiations. Sterling is currently testing the 1.2915 levels, with some recovery expected from that level towards 1.30 levels.
Oil fell to its lowest level in two months amid a US-China trade dispute that could hurt global economic growth, which would necessarily reflect global demand. On the other hand, Saudi Arabia has announced its willingness to cover any market deficits as sanctions on Iranian exports approach.
