Will the BOC bring a challenge to the CAD traders?
The Bank of Canada (BOC) will release its rate statement alongside the monetary policy report during its meeting on January 22 at 17:00 MT time.
Greenback rebounds from this year’s maximum
On Wednesday, the evergreen buck decreased from the maximum of this year versus a group of other currencies. Market participants made up their mind to take a breather after the abrupt appreciation of the evergreen buck provoked by Trump's decision to withdraw from the nuclear deal with Iran.
The US dollar index that gauges the purchasing power of the evergreen buck to a pack of six major currencies, headed north by 0.15% being worth 92.80.
On Tuesday, Trump uncovered that America would break up with the nuclear deal with Iran. The given move ramped up the risk of conflict in the Middle East and could generate a domino effect in relation to global crude reserves as well as the surge of the global economy.
The US currency was backed by the surge of revenue of American government bonds above the psychologically decisive level of 3% to the highest mark for two weeks. The steep jump in crude prices gave rise to forecasts about the hypothetical acceleration of inflation.
If the profit of American bonds manages to surpass the value of 3,035%, recorded on April 25, it will become the maximum since the start of 2014.
The US dollar ascended against the Japanese yen. The currency pair USD/JPY rallied by 0.55% reaching 109.72.
The common currency drifted away from the maximum of four months against the evergreen buck. The currency pair EUR/USD ascended to 1.1884 having traded at 1.1823 during the night trading session.
The European currency found itself under pressure following a recent series of downbeat economic reports from the euro zone, which drove worries that the ECB might not complete its financial stimulus program in September, as some traders expected.
The British pound rallied against the greenback. The currency pair GBP/USD jumped by 0.18% being worth 1.3571.
Similar
Important events this week will bring us
This week will bring us central bank statements and important economic indicators related to the main currency pairs. Read on to see which ones will be affected.
The risk sentiment gets better as Chinese data improves
The recent Chinese figures bring optimism
Latest news
NETFLIX stock: overvalued or not?
Netflix releases its Q4'2019 earnings report on Tuesday at 13:00 MT (11:00 GMT). Are you ready to trade stock on it?
Will the BOC bring a challenge to the CAD traders?
The Bank of Canada (BOC) will release its rate statement alongside the monetary policy report during its meeting on January 22 at 17:00 MT time.
OIL: back to the rising curve?
Events in Libya pushed the oil price up. So what's the strategy to benefit from it?
Deposit with your local payment systems
