07:52 AM EDT, 09/18/2024 (MT Newswires) -- On the Canadian docket Wednesday at 1:30 p.m. ET, Bank of Montreal (BMO) noted that the Summary of Deliberations from the Bank of Canada's Sept. 4 policy meeting, which saw a third consecutive 25 bp rate cut, will be scoured for any clues on what it would take to prompt more aggressive easing.

The economic backdrop has been consistently "soft," though the bank will be watching for the level of concern around the weak start to Q3 relative to the BoC's optimistic forecast. There's been a clear shift in the central bank's tone to be more symmetrical on medium-term inflation risks, and any further shift toward concern about downside risks will be notable.

Also, on the Canadian docket at 8:30 a.m. ET Wednesday, investors will get the July reports on construction investment -- it was up 2.8% to C$21.4 bln in June -- along with international securities transactions, stated BMO. The latter, in June, saw Canadian investors increase international securities holdings by C$16.4 bln while international acquisitions of Canadian securities were C$5.2 billion, for a net C$11.2 billion outflow of capital.

The US dollar is softer (BBDXY -0.24%) with the Canadian dollar (CAD or loonie) firmer (CAD per USD -0.08%) early Wednesday, added BMO.