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The Bank of Canada announces no changes to its interest rate, USD/CAD rises.

The Bank of Canada announces no changes to its interest rate, USD/CAD rises.

Information is not investment advice

:red_circle: During today's meeting, the Bank of Canada kept its interest rate unchanged at 1.75%. At the same time, the bank commented that economic data comes in line with the projections. However, the market anticipated more hawkish tone. As a result, the Canadian dollar weakened. USD/CAD has tested last January's levels above the resistance zone at 1.3506. The next resistance lies at 1.3576. Bears need to pull the price below the 1.3506 level to the support at 1.3429 to confirm their strength.

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