BoC

USDCAD

USDCAD in Focus As Bank of Canada (BoC) Decision Looms

The USDCAD was able to touch below the 1.3500 price level for the first time since March 2020. The Loonie has had a lot going for it lately. The bounce in crude oil price from near-zero levels after the OPEC + production cuts of April has pushed the oil-linked currency [...]
USDCAD bank of canada

USDCAD Trades Higher As Bank of Canada (BoC) Holds Rates

The USDCAD extended its surge on Wednesday after the Bank of Canada (BoC) held rates at 0.25% as expected, following a series of emergency cuts in March 2020. The Canadian Dollar has been under pressure for several weeks following the drop in crude oil price as well as last week’s [...]
USDCAD bank of canada

EURCAD: Canadian Dollar Gains Briefly on BoC Statement

The EURCAD is off its multi-month highs this Tuesday as the Bank of Canada (BoC) has just released a statement this Tuesday reiterating its readiness to reduce its policy rate further, as well as use other tools at its disposal to stimulate growth and bring inflation within its set targets. [...]
USDCAD bank of canada

USDCAD Strengthens as Bank of Canada (BoC) Cuts Rates by 50bps

The USDCAD is trading higher after the Bank of Canada (BoC) cut interest rates by 50pbs this afternoon, citing weakening economic conditions due to the coronavirus outbreak. The interest rate now stands at 1.25%. Excerpts from the BoC's rate statement are provided below.  "While Canada's economy has been operating close [...]