This week a lot of focus will be on Oil markets with the upcoming OPEC+ meeting scheduled for Thursday 9 April. The outcome of this meeting will have short and medium-term repercussions for the CAD.
This week the USD faces a bit of a dilemma in terms of its current drivers. On the one end general short-term ease in markets means data should drive it lower, but the threat of further safe-haven inflows remains a possibility.
With Italy being the new epicenter of the Coronavirus the focus for the EUR will be on much more than just the important forward-looking economic data points this week.
The big question for the market this week is whether the Fed will over-deliver or under-deliver at their upcoming meeting this week. Either way, expect big moves across asset classes with this event.
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