The Bank of Canada is slated to hike rates by 75 basis points to 3.25% today but it's not a sure thing as 50 bps or 100 bps could come. Unlike the Fed, the BOC isn't afraid of surprising markets and communication has been vague. The decision is at 10 am ET, 1400 GMT.
Before that we get the dual trade balance reports from the US and Canada. The US number is expected to improve to a deficit of $70.39B in July from $79.6B in June as spending shifts to services from goods.
On the Fed docket, we have a full one as we count down to the blackout period on Saturday:
- 9 am ET Barkin
- 10 am ET Mester
- 1235 pm ET Brainard
- 2 pm ET Barr
- 2 pm ET Beige Book
