The Bank of Canada could raise its key interest rate by 50 basis points at Wednesday's meeting but the Canadian dollar may not benefit from the move straight away, ING says. Markets are fully pricing in a 50 basis-point rate rise, which suggests limited upside potential for CAD in the immediate aftermath of the decision, ING analysts say. "Still, looking beyond the very short term, the notion of front-loaded monetary tightening combined with strong economic fundamentals and--above all--a supportive external environment thanks to high oil and gas prices should all combine to keep the Canadian dollar attractive," the Dutch bank says. ING expects USD/CAD to fall to the 1.20-1.23 area in the second half of 2022 from 1.2617 currently.
Expected Major Events for Tuesday
06:00/GER: Mar WPI
06:00/GER: Mar CPI
06:00/UK: Mar UK monthly unemployment figures
06:45/FRA: Feb Foreign trade
06:45/FRA: Feb Balance of payments
09:00/GER: Apr ZEW Indicator of Economic Sentiment
10:00/US: Mar NFIB Index of Small Business Optimism
10:00/FRA: Feb OECD Harmonised Unemployment Rates
12:30/US: Mar CPI
12:30/US: Mar Real Earnings
12:55/US: 04/09 Johnson Redbook Retail Sales Index
14:00/US: Apr IBD/TIPP Economic Optimism Index
16:59/GER: Feb Balance of Payments
18:00/US: Mar Monthly Treasury Statement of Receipts & Outlays of the U.S. Govt
20:30/US: 04/08 API Weekly Statistical Bulletin
23:01/UK: CBI and PwC Financial Services Survey
23:50/JPN: Mar Money Stock, Broadly-defined Liquidity
23:50/JPN: Feb Orders Received for Machinery
All times in GMT. Powered by Kantar Media and Dow Jones.
Expected Earnings for Tuesday
ADF Group is expected to report for 4Q.
AgEagle Aerial Systems Inc (UAVS) is expected to report for 4Q.
Albertsons Companies Inc (ACI) is expected to report $0.60 for 4Q.
Bank Of South Carolina (BKSC) is expected to report for 1Q.
Bit Digital Inc (BTBT) is expected to report for 4Q.
CarMax Inc (KMX) is expected to report $1.23 for 4Q.
ClearOne Inc (CLRO) is expected to report for 4Q.
FTI Consulting (FCN) is expected to report $1.88 for 4Q.
Genesis Healthcare Inc (GENN) is expected to report $-0.33 for 4Q.
Goodfellow is expected to report for 1Q.
Ideanomics Inc (IDEX) is expected to report $-0.02 for 4Q.
Legacy Housing Corp (LEGH) is expected to report $0.51 for 4Q.
Madison Pacific Properties Inc - B Share (MPC.T) is expected to report for 2Q.
Odonate Therapeutics Inc (ODTC) is expected to report $-1.17 for 4Q.
OrganiGram Holdings Inc (OGI,OGI.T) is expected to report $-0.02 for 2Q.
Platinum Group Metals Ltd (PLG,PTM.T) is expected to report for 2Q.
Pure Cycle Corp (PCYO) is expected to report for 2Q.
RespireRx Pharmaceuticals Inc (RSPI) is expected to report for 4Q.
Royale Energy (ROYL) is expected to report for 4Q.
Supremex is expected to report.
Washington Federal (WAFD) is expected to report $0.70 for 2Q.
Zovio Inc (ZVO) is expected to report for 4Q.
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ANALYST RATINGS ACTIONS
Barnes Group Cut to Neutral From Overweight by Alembic Global
BioCryst Pharmaceuticals Cut to Neutral From Buy by B of A Securities
Buy Palantir Stock to Bet on Security in a More Dangerous World, Analyst Says -- Barrons.com
C4 Therapeutics Is Maintained at Outperform by BMO Capital
C4 Therapeutics Price Target Cut to $20.00/Share From $57.00 by BMO Capital
Cactus Cut to Equal-Weight From Overweight by Morgan Stanley
CatchMark Timber Trust Raised to Outperform From Neutral by Baird
Cerner Cut to Hold From Buy by Argus Research
ChampionX Raised to Overweight From Neutral by Piper Sandler
Citizens Financial Group Cut to Neutral From Buy by Citigroup
CommScope Holding Cut to Underperform From Market Perform by Raymond James
Datto Holding Cut to Hold From Buy by Needham
EPAM Systems Raised to Outperform From Peer Perform by Wolfe Research
EQT Corp Raised to Buy From Hold by Tudor Pickering
Fortune Brands Cut to Underperform From Buy by B of A Securities
JetBlue Raised to Neutral From Sell by MKM Partners
KeyCorp Cut to Hold From Buy by Jefferies
KeyCorp Raised to Overweight From Underweight by Wells Fargo
Kinder Morgan Cut to Underperform From Peer Perform by Wolfe Research
Lucid Group Initiated at Outperform by Exane BNP Paribas
Masco Cut to Neutral From Buy by B of A Securities
Navient Cut to Underweight From Neutral by JP Morgan
Nvidia Cut to Neutral From Outperform by Baird
Photronics Raised to Buy From Hold by Stifel
Regions Financial Raised to Overweight From Equal-Weight by Wells Fargo
SailPoint Technologies Cut to Hold From Buy by Needham
SBA Communications Cut to Neutral From Buy by MoffettNathanson
State Street Cut to Neutral From Buy by Citigroup
Sterling Check Cut to Equal-Weight From Overweight by Morgan Stanley
T Rowe Price Cut to Hold From Buy by Jefferies
Truist Financial Cut to Neutral From Buy by Citigroup
Wells Fargo Raised to Buy From Neutral by Citigroup
This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
04-12-22 0617ET
