EUR: beating the USD so far
Thursday ended with the EUR/USD being high above of local resistance of 1.10. What's the target now?
How will the Canadian dollar react to the BOC meeting?
The Bank of Canada (BOC) will release its statement and publish the official rate on September 4, at 17:00 MT time.
The changes to the interest rate are not expected, but we will be looking for the clues on the next steps by the bank. Some of the analysts expect the BOC to throw the hints on the possibility of a rate cut, citing the trade uncertainty between the US and China and worsened economic outlook. Thus, any dovish comments will pull the Canadian dollar down. So, let’s wait for the outcome of the meeting.
• If the Bank of Canada is hawkish, the CAD will rise;
• If the Bank of Canada is dovish, the CAD will rise.
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EUR: beating the USD so far
Thursday ended with the EUR/USD being high above of local resistance of 1.10. What's the target now?
All attention to AUD: cash rate and RBA statement
The Reserve Bank of Australia will make a statement and release the cash rate on Tuesday, June 2, at 8:30 MT time.
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