The Bank of Canada (BoC) elected to leave its key interest rate steady at 0.25%. It also opted to leave its quantitative easing program at present levels. These were the highlights of its last rate decision statement for 2020, released this Wednesday afternoon. The BoC also hinted at leaving rates […]
The Loonie took a massive hit this Wednesday as risk aversion took hold of the markets shortly before the onset of the NY session. Crude oil prices fell as soaring coronavirus cases, and a lack of any further stimulus from the US Congress sent risk-seeking assets into the red. This […]
The USDCAD resumed the downward move today, hitting the lowest level since September 21 after oil prices rose on the WTI and the Brent benchmarks on Thursday. Also, BoC Governor Tiff Macklem declared that the bank would not deploy negative interest rates even if the coronavirus situation were to worsen. […]
USDCAD trades lower as BoC holds rates. Find out reasons for today’s price action by signing up today.
The USDCAD is in the middle of a choppy trading session as the Bank of Canada voted to leave the interest rates unchanged at 0.25%. This decision meets the market expectations, which did not foresee any further adjustment in interest rates. Attention has now shifted to the Q2 2020 edition […]
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Hawkish statement from the BoC have been offset by the US ISM Non-manufacturing PMI data, causing a stall in the decline on the USDCAD.