The Financial Fixed Odds update from David Evans, Market Analyst, BetOnMarkets.

Go-Canada-Go was chant at the Winter Olympics and judging by trader’s reaction this morning, forex markets are of the same sentiment.

Forex markets are quiet this morning with the exception of the US Dollar/Canadian Dollar spread which stands out as the morning’s biggest mover.

Yesterday, the Bank of Canada gave its strongest hint yet that it would soon be diverging its rate policy from the US and start to hike rates above the record low 0.25%.

The USD/CAD pair was pushed below parity on the news yesterday and that sentiment is still strong this morning.

Note that with BetOnMarkets you can make bets that the USD/CAD will continue to drop with a Double Down bet over the next 7 days.

Elsewhere, forex markets are quiet, with the main move being against the Japanese yen, with the Aussie dollar and British pound performing strongly against that currency.

Later Today

Coming up today we have the latest UK claimant count change numbers (Unemployment benefit claims) at 09.30. Unemployment claims are expected to drop, but by a much smaller margin than last month.

Following this we have the release of the minutes from the last Bank of England MPC meeting. With inflation proving sticky, analysts will be keen to see what the central bank had to say about it at its last meeting.

Fed Chairman Ben Bernanke is speaking at 15.15.

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