Ben Bernanke to give monetary policy testimony
The fed Governor Ben Bernanke will today at 10am EST deliver a semi-annual monetary policy testimony to House Financial Services Committee in Washington. The Fed Chairman will comment on how the Fed observes the current U.S. economy and the value of dollar. Bernanke's comments may influence the volatility of the currency and determine a short-term positive or negative trend. His hawkish view is considered as positive, or bullish for the USD, whereas his dovish view is considered as negative or bearish for the Dollar.
ICSC- Goldman store sales report will be released
Today the weekly measure of comparable store sales will be published. Last week same-store sales tally rose 0.5 percent in the week but still shows a minus 0.3 percent year-on-year pace.
Bank of Canada to announce interest rate decision
The BoC Interest Rate Decision will be announced today by the Bank of Canada at 11am EST. If the BoC is hawkish about the inflationary outlook of the economy and increases the interest rates it is positive for the CAD. Likewise, if the BoC has a dovish view on the Canadian economy and decides to keeps the current interest rate, or cut the interest rate it is seen as negative.