USD/CAD drops from weekly highs ahead of the BoC’s decision – by christianborjon USDCAD Currencies Majors Macroeconomics BOC
ghtening 75 bps in the September meeting. Nevertheless, the market’s reaction was limited due to expectations of the Bank of Canada hikingThe USD/CAD extended its losses after hitting a daily high at 1.3170, though it erased those gains post-US economic data release, with the spot price stabilizing at current price levels. At the time of writing, the USD/CAD is trading at 1.3124.
Elsewhere, the Bank of Canada is expected to hike rates by 75 bps in September 7 meeting. The Bank of Canada Governor Tiff Macklem clarified that the central bank is focused on getting rates “slightly above” the neutral rate, where neither stimulates nor weighs on the economy. Analysts estimate that the BoC would likely pause, after its anticipated hike, after last week’s GDP release suggested that the economy is cooling faster than expected.The Canadian economic docket will feature the Bank of Canada monetary policy decision on Wednesday. On the US front, Cleveland’s
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
AUD/USD solid, meandering around 0.6800 ahead of the RBA's decisionThe AUD/USD recovers some ground after recording fresh two-month lows during the last week, amid a negative market sentiment trading session, with US
Les mer »
Gold Price Forecast: XAU/USD drops from daily highs but still above the $1700 figureGold price losses some of its brightness at the beginning of the week, down by 0.49%, in a thin liquidity trading day, with US markets, closed in the
Les mer »
USD/CAD Price Analysis: Pierces immediate hurdle on the way to 1.3200USD/CAD Price Analysis: Pierces immediate hurdle on the way to 1.3200 – by anilpanchal7 USDCAD Technical Analysis ChartPatterns SupportResistance TrendFollowing
Les mer »
Pairs in Focus This Week \u2013 USD/JPY, EUR/USD, GBP/USDThe USDJPY currency pair was a huge gainer last week, and at one point the Yen had lost more value against the Dollar than any other currency over the week: Forex Trading Forecast
Les mer »
When is the RBA Interest Rate Decision and how could it affect AUD/USD?After announcing consecutive four rate increases in the last meetings, the Reserve Bank of Australia (RBA) is up for another hawkish monetary policy o
Les mer »
AUD/USD traders eye the RBA for the week aheadAUD/USD ended last Friday higher by around 0.3% on the day after climbing from a low of 0.6779 to a high of 0.6855, closing around 0.68065. However, w
Les mer »