Strong EUR vs weak USD
S&P 500 takes a pause near the all-time high, while the US dollar remains at the lowest levels since 2018.
Will the BOC strengthen the CAD even more?
Information is not investment advice
The Bank of Canada will publish the rate statement together with the interest rate on October 28, at 16:00 MT time.
Instruments to trade: USD/CAD, EUR/CAD, CAD/JPY
According to data from the Bank of Canada, the financial market conditions in the country are improving. As a result, the regulator has announced changes to its supportive measures. The last operations of the Canada mortgage bond purchase program and Banker's acceptance purchase are scheduled for the week of October 26. At the same time, the BOC will pay particular attention to the housing sector to prevent speculations amid the low interest rate. That means, the interest rate will likely stay unchanged at 0.25% during this meeting. What’s interesting is the bank’s plans for the upcoming months and the forecasts in the statement.
- If the BOC is optimistic, the CAD will strengthen;
- If the BOC is pessimistic, the CAD will weaken.
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Popular
Strong EUR vs weak USD
S&P 500 takes a pause near the all-time high, while the US dollar remains at the lowest levels since 2018.
EUR is on fire, while USD touches dips
A lot of news came out that may impact the market. It’s surely not the time to rely only on technical analysis!
Will the euro stand firm?
The European unemployment rate is announced on Wednesday at 12:00 MT time.
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