Canadian dollar goes down as Bank of Canada leaves rates on hold

Canadian dollar goes down as Bank of Canada leaves rates on hold

On Wednesday, the evergreen buck headed north, while the Canadian dollar went down after the Bank of Canada left interest rates on hold as anticipated.

Estimating the greenback’s purchasing potential versus its major rivals the USD index tacked on by about 0.1% concluding the trading session at 97.41.

The currency pair USD/CAD managed to surge by up to 0.6% ending up with 1.3502 right after the Bank of Canada kept rates at 1.75%, referring to a dive in global surge activity because of trade worries.

Everlasting uncertainty related to trade clashes has undermined business activity and sentiment, adding to a synchronous deceleration across many countries.

Still, Canada’s major financial institution told it actually expects a surge in the country to pick up for the second half of 2019.

In addition to this, the common currency headed south due to the fact German business morale headed south in April. The currency pair EUR/USD tumbled by about 0.2% trading at 1.1197, approaching its lowest value since early March.

Trade pressure as well as fears about global protectionism are putting pressure on the European Union’s external position and also challenging its surge trajectory. As some financial analysts pointed out, they’re actually looking at underperformance relative to America for now.

Aside from that, the UK pound stood still. The currency pair GBP/USD came up with a reading of 1.2955 due to the fact expectations for a breakthrough on Brexit receded.

The evergreen buck decreased versus the safe-haven Japanese yen. The currency pair USD/JPY inched down by nearly 0.1% demonstrating an outcome of 111.72.


What to Trade on August 29 - September 2?
What to Trade on August 29 - September 2?

Last week several important economic updates influenced the Forex market. US preliminary GDP fell less than expected (0.6% actual vs. 0.7% forecast). Below you will find the key events to trade on during the week from August 29 to September 2.

Monday started with volatility
Monday started with volatility

Have a look at the key financial instruments on Monday, February 28. Geopolitics is currently on all news frontlines. Western nations escalated sanctions on Russia for the invasion of Ukraine.

Latest news

News for The Week
News for The Week

US stock markets started falling, while the US dollar is rising. What to expect from

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

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

Internal error. Please try again later

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

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera