Market updates on June 27
Market updates
An opportunity to trade the Canadian dollar
The Bank of Canada will make its rate statement on December 5 at 17:00 MT time.
Last time the Reserve Bank of Canada lifted its interest rate to 1.75% in October, as widely expected. It was the third increase this year. The rate reached the highest level since 2008. As the USMCA agreement was reached, the BOC can suggest hints on further tightening of its monetary policy. We do not anticipate the rate hike this time, but the comments from the statement can increase the volatility in the market.
• If the BOC statement is hawkish, the CAD will rise.
• If the BOC statement is dovish, the CAD will fall.
Similar
Keep an eye on the important release for the loonie
The level of GDP growth for Canada will be published on June 28, at 15:30 MT time.
Market updates on June 26
Read and find out the market movers
Latest news
British inflation tacks on for the first time this year
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
Evergreen buck heads north
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
Gold sinks on soaring greenback
On Monday, gold declined because the evergreen buck managed to gain early traction, thus putting pressure on the most popular precious commodity, which has been sticking with the year’s minimums…
Deposit with your local payment systems
