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Daily Market Commentary

Fed comments will be released with afternoon at 2:15pm, along with the rate decision.  They will not be moving the overnight rate, and speculation is that the comments will remain as they were at the last meeting.  Risks still lie with inflation which is slightly above their comfort level, but they will be watching the data on the economy closely to monitor its health.


Once again, bonds are ticking slightly higher on little volume.  Yesterday's choppy session ended modestly higher as we move towards Friday's PPI numbers, which are really the most important of the week.


  The overbought Canadian dollar is down against all currencies this morning, again without any data driving it that way.  We'd still expect a correction to the 1.1200 area all else equal, but the data can have a knack of surprising.


 An update email will follow at 2:15pm, shortly after the Fed release.


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