FxPro Daily Insight for January 22

Foreign exchange markets revived on Tuesday, moving in the wake of worries around the mysterious Chinese coronavirus, causing move to safe-heavens. On Wednesday, market sentiment is more optimistic as most indices are trying to shake off these fears, turning to growth.

Pound adds to the dollar for the third day, but has not yet played Friday’s drop. CAD unchanged to USD ahead of CPI release and Bank of Canada’s rate decision. As no changes expected, all attention focused on the statement and the subsequent BOC press conference.

Important upcoming events (GMT): 13:30 Ca !! Consumer Price Index 15:00 Ca !!! Bank of Canada Overnight Rate 15:00 US !! Existing Home Sales 16:15 Ca !!! Bank of Canada Press Conference