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Markets Brace for Fed: Stocks Dip, VIX Spikes, and JPY Firms Amid Yield Shifts


18.12.2024
Markets Brace for Fed: Stocks Dip, VIX Spikes, and JPY Firms Amid Yield Shifts

Today's expected range for the Canadian Dollar against the major currencies:

US Dollar        1.4220-1.4440

Euro                 1.4900-1.5140

Sterling            1.8040-1.8290

 

WTI Oil (opening level) $70.65

The CAD is opening at 1.4326 ( 0.6980)

Key Points

·    Equities: Main US indices suffer modest correction. Ugly breadth indicators as Dow Jones suffers ninth consecutive losing day,

·    Volatility: VIX spikes, Fed rate decision in focus

·    Currencies: JPY firms slightly on softer US treasury yields. CAD and AUD dip to new cycle lows versus USD

·    Commodities: Gold drifts as focus shifts to next year’s rate outlook

·    Fixed Income: US yields edged modestly lower ahead of FOMC, UK yields jump again after strong wage data.

·    Macro events: FOMC Meeting and Fed Chair Powell press conference

 

 



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Also read
05.10.2023

Today's expected range for the Canadian Dollar against the major currencies:

US Dollar        1.3700-1.3800

Euro                1.4400-1.4500

Sterling           1.6650-1.6750

07.02.2022

Today's expected range for the Canadian Dollar against the major currencies:

US Dollar             1.2675-1.2775

Euro                     1.4500-1.4600

Sterling                1.7150-1.7250