Quiet start to the week as markets focus on Fed rate cut odds.
Softer US data last week leads to an uptick in June rate cut hopes.
BoC expected to hold steady on rates on Wednesday.
Tuesday’s US ISM Services Purchasing Managers Index (PMI) for February is forecast to tick down to 53.0 from 53.4.
Markets will be looking for softer US data prints as investors hope a weakening US economy will boost odds of a Fed rate cut.
CME FedWatch Tool sees over 70% odds of a Fed rate trim in June at current cut.
Wednesday’s BoC rate call is forecast to see no moves from BoC Governor Tiff Macklem.
The US ADP Employment Change for February is slated for Wednesday and is forecast to show an uptick is US employment to 150K for the month, up from the previous month’s 107K
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