untitled design

Tag: BOC

USD/CAD pulls back from multi-month highs despite strong US CPI, below 1.2950

USD/CAD pulls back from multi-month highs despite strong US CPI, below 1.2950 USD/CAD pulls back from multi-month highs despite strong US CPI, below 1.2950

USD/CAD has been swinging in the wake of the US CPI but has finally slipped back below 1.2950 as crude oil prices rise. However, the dour tone in US equity trading hampers the prospect of a broader CAD rally. USD/CAD reached its highest level since November 2021 on Tuesday at 1.3050. The USD/CAD saw a […]

USD/CAD hits two-week lows below 1.2500

USD/CAD hits two-week lows below 1.2500 USD/CAD hits two-week lows below 1.2500

USD/CAD fell to two-week lows on Wednesday, shedding around 1.0% from near its 200 DMA from above 1.2600 to below 1.2500. The USD underperformed, driving much of the move, although higher-than-expected Canadian CPI figures also helped weigh on the pair. The USD/CAD fell to two-week lows on Wednesday, losing roughly 1.0% on the day from […]

USD/CAD remains subdued below the 200 and 50 DMAs at 1.2650

USD/CAD remains subdued below the 200 and 50 DMAs at 1.2650 USD/CAD rises above 1.2700

In a subdued and low start to the week due to the holidays, USD/CAD has traded in tight ranges just above the 1.2600 level. Higher oil prices have prevented the pair from being lifted above its 50 and 200 DMAs for the buoyant dollar. This week’s focus will be on Fed Chairman Powell’s speech on […]

USD/CAD falls towards 1.2635 after the BOC decision

USD/CAD falls towards 1.2635 after the BOC decision USD/CAD falls towards 1.2635 after the BOC decision

The Bank of Canada (BoC) raises rates to the 1% threshold and will begin quantitative tightening on April 25. USD/CAD tumbled as volatility increased, hitting a daily low at 1.2625 in its initial reaction. USD/CAD Price Forecast: The Pair Is Skewed To The Upside, But BoC Governor Tiff Macklem’s Press Conference Will Cause More Volatility […]

Bank of Canada raises interest rates by 50 basis points to 1%, in line with expectations

Bank of Canada raises interest rates by 50 basis points to 1%, in line with expectations Bank of Canada raises interest rates by 50 basis points to 1%, in line with expectations

Bank of Canada raises interest rate by 50 basis points and points to more hikes. The loonie remains without significant changes. Ahead: press conference of authorities. The Bank of Canada announced on Wednesday a rise in the benchmark interest rate of 50 basis points to 1%, in line with what was expected. It also announced […]

USD/CAD eyeing a test of the 200D DMA at 1.2618 despite strong Canadian jobs report

USD/CAD eyeing a test of the 200D DMA at 1.2618 despite strong Canadian jobs report USD/CAD eyeing a test of the 200D DMA at 1.2618 despite strong Canadian jobs report

USD/CAD is trading above 1.2600 and awaits a test of its 200 DMA at 1.2618, despite strong jobs data out of Canada. The aggressive statements of the Fed have fueled the rally in the pair these last three days. Next week will be a very busy one with the CPI, PPI and US Retail Sales, […]

“Ready to move strong” to return inflation to 2.0% target — Sharon Kozicki

“Ready to move strong” to return inflation to 2.0% target — Sharon Kozicki “Ready to move strong” to return inflation to 2.0% target — Sharon Kozicki

The Bank of Canada is “prepared to act forcefully” to return inflation to its 2.0% target, it said on Friday Lieutenant Governor Sharon Kozicki, reported Reuters. Additional statements: “It is important to be clear that bringing inflation back to the 2% target is our primary focus and unwavering commitment.” “The pace and size of the […]

USD/CAD climbs back above 1.2750, tests 1.2800 after strong US jobs data and amid risk aversion

USD/CAD climbs back above 1.2750, tests 1.2800 after strong US jobs data and amid risk aversion USD/CAD climbs back above 1.2750, tests 1.2800 after strong US jobs data and amid risk aversion

USD/CAD rose sharply on Friday to test 1.2800 following strong US jobs data and amid a general tone of risk aversion. USD/CAD is currently up 0.7% on the day and 1.5% off Thursday’s multi-week low below 1.2600. The USD/CAD reversed sharply higher on Friday after the release of what traders described as an excellent US […]

USD/CAD falls below 1.2600 at six-week low amid rally in oil prices

USD/CAD falls below 1.2600 at six-week low amid rally in oil prices USD/CAD falls below 1.2600 at six-week low amid rally in oil prices

USD/CAD moves lower for the second day in a row and falls to a new multi-week low. Bullish crude oil prices and an upbeat BoC benefit the CAD and drag the pair lower. Geopolitical risks benefit the safe-haven USD and could help limit any further losses. The pair USD/CAD has fallen to a six-week low […]