Dollar Pressure Builds but USDCAD May be the Only Major That Can Break Wednesday

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S&P 500, AUDUSD, US Treasury Yield, EURUSD and USDCAD Talking Points:

• Markets continued to carve out restrictive trading ranges with speculative appetite far short of the encouragement needed to push the S&P 500 to record highs
• While there are a range of event risk ahead like GameStop earnings, the top event risk with volatility potential is the BOC rate decision – and candidates USDCAD and GBPCAD
• Looking a little further out, the Dollar faces key event risk in the US CPI release Thursday with EURUSD particularly loaded with the ECB decision

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