The big news over the weekend came out as the US Senate approved the $1.9 trillion stimulus bill, placing a hint of positive outlook into the markets with hopes of global economic recovery. However with the increased stimulus threatening higher inflation risk, the Fed will be keeping a close eye on the impact of the stimulus bill to adjust their rate increase forecast.
Brent continued its rally as it broke $70 for the first time since the pandemic began following attacks on Saudi Arabian facilities.
On the back of the stimulus bill gold pushed off its yearly low of 1687 to 1714 with the precious metal clawing back some gains lost in the prior weeks.
With Monetary Policy statements announced this week out of Canada and Europe inflation and expected interest rate hikes will be on the agenda.
12:00pm - BOE Gov Bailey Speaks (GBP)
1:50am - Final GDP q/q (JPY)
1:50am - M2 Money Stock y/y (JPY)
9:00am - German Trade Balance (EUR)
12:00am - RBA Gov Lowe Speaks (AUD)
3:30pm - CPI (USD)
5:00pm - BOC Rate Statement (CAD)
5:30pm - Crude Oil Inventories (USD)
Tentative - BOC Press Conference (CAD)
8:01pm - 10-y Bond Auction (USD)
2:45pm - Monetary Policy Statement (EUR)
2:45pm - Main Refinancing Rate (EUR)
3:30pm - ECB Press Conference (EUR)
5:00pm - JOLTS Job Openings (USD)
3:30pm - Employment Change (CAD)
3:30pm - Unemployment Rate (CAD)