Forex
Fed Rate Hike Looms as Canada's Inflation Data Unveils Contractions
The Canadian economy is set to release its inflation data today, showing a contraction of 0.1% month-over-month and potentially affecting the value of the Loonie.
The Federal Reserve's policy decision this week has strengthened the US Dollar, with an 87% probability of a rate hike and a likely 0.25% increase in interest rates.
The Bank of Japan is expected to raise its interest rate from 1.00% to 1.25%, supported by revised second-quarter GDP growth of 1.4%. However, the Japanese Yen has given back some of its recent gains.