Don’t waste your time – keep track of how NFP affects the US dollar!

Data Collection Notice

We maintain a record of your data to run this website. By clicking the button, you agree to our Privacy Policy.

facebook logo with graphic

Join Us on Facebook

Stay on top of company updates, trading news, and so much more!

Thanks, I already follow your page!
forex book graphic

Beginner Forex Book

Your ultimate guide through the world of trading.

Get Forex Book

Check Your Inbox!

In our email, you will find the Forex 101 book. Just tap the button to get it!

FBS Mobile Personal Area

market's logo FREE - On the App Store

Get

Risk warning: ᏟᖴᎠs are complex instruments and come with a high risk of losing money rapidly due to leverage.

69.21% of retail investor accounts lose money when trading ᏟᖴᎠs with this provider.

You should consider whether you understand how ᏟᖴᎠs work and whether you can afford to take the high risk of losing your money.

What’s new with CAD?

What’s new with CAD?

Information is not investment advice

What will happen?

The Bank of Canada will reveal the overnight rate and make a statement on March 2, at 17:00 MT time. This release is important for the CAD movement and all pairs that include this currency. The rate decision is usually priced in by the market. In simple words, traders are aware of forecasted changes, and that's reflected in the current price. But they never know what will be in the BOC statement, so it may have a bigger impact on the market. The Bank of Canada reviews the overnight rate eight times a year.

How will CAD react?

Since March 2020, when the COVID-19 pandemic stroke, the overnight rate has been steady at 0.25% and hasn’t done any surprising movements, as experts expected. However, the inflation rate in Canada is 5.1%, it’s the highest level since 1991. Nevertheless, there are still plenty of struggles in supply chains. The prices for energy are high as well. Because of high inflation, the interest rate can go up this time.

On January 26, 2022, the release wasn’t advantageous for CAD. After the release, CAD fell against USD by approximately 1200 points. It seems the currency needs stronger actions.

CAD.png

How to trade on the Canadian Overnight Rate Release?

If the actual rate is higher than forecasted, it's better for the currency.

Short-term interest rates are essential while valuing a currency. Thus, traders analyze other indicators just in order to predict rates’ further movements.

Check Economic Calendar.

Instruments to trade: USD/CAD, EUR/CAD, CAD/JPY

Similar

Popular

Choose your payment system

Callback

Please fill in the form below so we can contact you

Select the best time for us to call you. We give calls from Monday to Friday in suggested intervals. In case we couldn't get through, we will try again at the same time the next day. For getting real-time assistance, use FBS chat.

We provide only English-speaking callbacks. If you prefer any other languages, contact the support team.

We will call you at the time interval that you chose

Change number

Your request is accepted.

We will call you at the time interval that you chose

Next callback request for this phone number will be available in 00:30:00

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later