Will the Bank of Canada shake the loonie?
The bank of Canada will make its monetary policy statement and announce the official rate on April 24, at 17:00 MT time.
Greenback declines on Trump’s remarks on Fed
On Friday, the evergreen buck slumped after Donald Trump had the Federal Reserve heavily criticized for lifting interest rates, although it was still on target for a second winning week.
Estimating the greenback’s value versus a bunch of key currencies, the USD index slumped by 0.15% being worth 94.84.
Notwithstanding the sag, the evergreen buck happened to be on target for a second winning week, and it has soared over 5% for the last three months on hopes that interest rates are going to ascend.
Trump told that he doesn’t like how the main American financial institution is pursuing its monetary policy now. The Federal Reserve had rates raised twice in 2018, and it’s expected to have them lifted one more time before the end of 2018.
US leader told that he wasn’t thrilled about it at all. He told that the major US bank is used to raising rates each time the American economy goes up. However, this approach makes US products less competitive. Nevertheless, Trumps allows the Fed to do what the bank is believed to be good at.
At the same time, trade tensions resumed, with the EU anticipated to strike back against America with more duties after the United States slapped duties on aluminum and steel in June. Duties on $3.8 billion of American products have already been slapped by the European bloc.
The greenback dived versus the safe-haven Japanese yen. The currency pair USD/JPY dipped by 0.06% trading at 112.39. In times of uncertainty, market participants tend to purchase Japan’s currency because it’s considered to be a safe-haven asset, which would come in handy when facing hard times.
The UK currency managed to rally. The currency pair GBP/USD gained 0.08% being worth 1.3024. The currency pair EUR/USD added 0.11% trading at 1.1656.
Similar
Evergreen buck rallies on upbeat American data
On Monday, the evergreen buck managed to surge versus the common currency and UK pound, backed by the relative strength of the American economy, although moves were still minor because many traders were still away for the long Easter weekend…
Tunisia and Afghanistan intend to issue Bitcoin bonds
The major financial institutions of Afghanistan and Tunisia are geared up towards issuing a Bitcoin bond…
Latest news
Weekly CryptoNews
Did Bitcoin manage to recover and what was the hottest news in the crypto and blockchain world? Read and find out!
Most Asian stocks post strong revenues with Nikkei rising more than 2%
On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan real wages surge is slowest in almost two years
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…
Deposit with your local payment systems
