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Bank of Canada preview; oil and Sterling rally

North Korea fears that sent stocks into a tailspin Tuesday have subsided overnight. This morning finds US Indices and the Dax flat. The FTSE is down 0.6% in reaction to this week's GBP rally that has carried Cable back above $1.3000.

CAD is consolidating yesterday's gains ahead of today's 10:00 am EDT Bank of Canada decision. The bank raised interest rates at its last meeting so it is expected to stand pat this time around. With recent Canadian economic reports coming in strong like GDP, traders may look to the statement for hints of a second rate hike later this year.

As the oil industry recovers from Hurricane Harvey, bringing refineries and pipelines back on line, last week's panic trades continue to reverse. WTI crude is up another 0.3%, while gasoline is down another 1.3%.

First up is trade numbers for the US and Canada which could attract attention from traders and politicians with NAFTA renegotiations getting nowhere so far. 

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