Today’s Notable Sentiment Shifts

CAD – The Canadian dollar weakened on Tuesday as oil prices tumbled. Still, losses for the currency were limited by growing expectations for an oversized interest rate hike this week by the Bank of Canada.

Commenting on CAD, Adam Button – chief currency analyst at ForexLive, stated: “There’s a reluctance to sell the loonie ahead of a Bank of Canada decision. A three-quarter-point hike is widely priced in but that could also be coupled with hints at further large hikes.”