OPEC is standing pat, leaving its output ceiling unchanged

It's a pretty safe bet that the Fed is done with rate increases in March or May. The Fed chairman will then more than likely take a wait-and-see attitude in July. As far as Japan is concerned, no matter how far the Bank of Japan goes with their rate moves, Japan will still have the lowest policy rate in the OECD. The guessing game calls for the Bank of Canada to raise its benchmark interest rate just one more time this year. That sentiment explains a lot in the recent weakness in the Canadian dollar. Manufacturers are loving it, as a lower loonie makes their exports more competitive.

GM and Ford are going to be cutting aggressively in the second quarter, and the rollover of the housing market should be in full swing by then. Watch out below!

OPEC is standing pat, leaving its output ceiling unchanged due to growing threats to world oil supplies and concerns that a run in prices could hurt the global economy, and cause a decline in petroleum consumption.

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-Peter R. Bain