SIA Wealth Morning Minutes Banner

Bank of Canada Preview

Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on facebook
Facebook
Share on email
Email

The Bank of Canada is meeting this morning with its latest monetary policy decision and statement due at 10:00 am. Central banks around the world usually try to stay out of politics and with a federal election campaign underway, the likelihood of the bank doing anything this time is pretty much zero. The bank has been tapering its asset purchase program in recent months so investors may look to the statement for hints on when tapering may resume, and for comments on the health of the economy through the summer.

Investors may also look to tomorrow’s European Central Bank meeting for tapering hints and its economic outlook. For the US, this afternoon’s Fed Beige Book regional economic report at 2:00 pm EDT may be of some interest to investors. The Canadian Ivey PMI report (previous 59.8) is due at 10:00 am EDT today.

US indies futures are flat this morning as markets try to regain their footing after staring off the week with a step backward that saw the Dow fall 0.7% and the S&P 500 dip 0.3%. Commodity action is mixed with WTI crude oil rebounding 1.2% but copper falling another 0.7%. Currencies are pretty quiet with the exception of Bitcoin which is down another 0.9% falling toward $46,500 in follow-through after $50,000 gave way yesterday.

Disclaimer: SIA Wealth Management Inc. (SIAWM) specifically represents that it does not give investment advice or advocate the purchase or sale of any security or investment whatsoever. This information has been prepared without regard to any particular investor’s investment objectives, financial situation, and needs. None of the information contained in this document constitutes an offer to sell or the solicitation of an offer to buy any security or other investment or an offer to provide investment services of any kind. As such, advisors and their clients should not act on any recommendation (express or implied) or information in this report without obtaining specific advice in relation to their accounts and should not rely on information herein as the primary basis for their investment decisions. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable. SIAWM nor its third party content providers make any representations or warranties or take any responsibility as to the accuracy or completeness of any recommendation or information contained herein and shall not be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. Any statements nonfactual in nature constitute only current opinions, which are subject to change without notice.

Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on facebook
Facebook
Share on email
Email

At SIA Wealth Management everything we do is based on Relative Strength Analysis. We evaluate the Relative Strength between asset classes giving us insight into money flows on a large scale, and from this select top ranked investments.

Colin Cieszynski, Chief Market Strategist
Market Commentary:

Colin Cieszynski, CFA, CMT
Chief Market Strategist
ccieszynski@siawm.com
+1 (647) 282-4428

Keep Reading

INTERNET EXPLORER NOTICE