• US data ignored, ECB awaited
• Moscow circus not the only show in town
• No surprises from the Bank of Canada
The US dollar did not derive much benefit from data releases today as ADP employment, Markit services PMI and ISM non manufacturing PMI disappointed. The Bank of Canada did not disappoint, however, and left interest rates unchanged, as expected. The following statement gave a nod to last month's higher-than-expected inflation readings but mentioned that it expected CPI and core inflation to behave the way it was described in the Monetary Policy Report. At best, it is just as dovish as the January statement.
