Bank of Canada Meeting

Bank of Canada Meeting

The Bank of Canada will publish its rate statement at 17:00 MT time on December 6. This document contains commentary on the overall performance of Canada’s economy and offers clues about future monetary policy decisions. This release has a great impact on the exchange rate of the Canadian dollar.
The central bank raised rates in July and September but policymakers have said since then that while less stimulus would be required over time, they would be cautious about future rate moves. If this cautious tone persists, the CAD will suffer and it will be time to buy USD/CAD. 
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Trade on the Canadian economic data

The Canadian dollar has chances to keep trading at good levels. According to the recent statement of the Bank of Canada, the country’s economic data are in line with the forecasts.

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