**As seen in Macro Walk report 05/27/2022, cablefxm.co.uk/reports
We are set to hear from the Bank of Canada this week, overnight index swaps price in a 50bps this week which will be followed by another non-standard hike in July. The overnight rate is expected to have tightened around 170bps by December to 2.75% according to money markets
In the USD, traders cut tightening bets this week. As of market Friday market close, the OIS curve priced in 180bps of tightening from the Fed by December, this is down from 220bps seen at the beginning of the month
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