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Canada: BoC keeps policy unchanged, rate at 1%

The BoC left its rate unchanged at 1% in the March monetary policy meeting. “With continued slack in the Canadian economy, the muted outlook for inflation, and the more constructive evolution of imbalances in the household sector, the considerable monetary policy stimulus currently in place will likely remain appropriate for a period of time, after which some modest withdrawal will likely be required, consistent with achieving the 2 per cent inflation target", says the statement.

Session Recap: USD gains across the board

Another quiet session in the FX market, although the USD trades firmer versus most competitors after a stronger-than-expected ADP employment report, which highlights improvement in the labor market ahead of the NFP on Friday. The euro and the pound are at daily lows versus the greenback despite stronger global equities as investors remain cautious ahead of the ECB and BoE policy announcements.
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American equity markets edge higher Wednesday

The US Stock market experienced a positive opening Wednesday after upbeat data has helped drive the Dow to all time highs. In the United States, the ADP Employment Change continued this trend, reporting a figure of 198K in February, against expectations of only 170K.
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