Focus on US MBA mortgage applications – Danske Bank

By FXStreet FXStreet (Delhi) – Research Team at Danske Bank, suggest that on a day with a very thin calendar in terms of data releases focus will be on US MBA mortgage applications.

Key Quotes

“The overall picture is of a US housing market continuing to benefit from a favourable mix of low interest rates and positive real income growth. Homebuilding activity is also still below the long-term trend, which points to further improvements in the housing market.”

“We expect Bank of Canada to keep its policy rate unchanged at 0.5%. Last month’s policy statement was very balanced and suggested that Governor Poloz is comfortable remaining sidelined for now post the two rate cuts earlier in the year.”

“Fed member Powell who is a voter and considered neutral will speak tonight.”
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Source:: FX Street