The main bank of Russian will likely turn hawkish today. Time to sell USD/RUB?
The Bank of Canada announces no changes to its interest rate, USD/CAD rises.
:red_circle: During today's meeting, the Bank of Canada kept its interest rate unchanged at 1.75%. At the same time, the bank commented that economic data comes in line with the projections. However, the market anticipated more hawkish tone. As a result, the Canadian dollar weakened. USD/CAD has tested last January's levels above the resistance zone at 1.3506. The next resistance lies at 1.3576. Bears need to pull the price below the 1.3506 level to the support at 1.3429 to confirm their strength.
Canada will publish employment change and an unemployment rate on Friday, at 15:30 MT time.
The Canadian monthly GDP is announced on Wednesday at 15:30 MT time.
Read a short market wrap before trading today!
The United States will publish the non-farm employment change, also known as non-farm payrolls or NFP at 15:30 MT (GMT+3) time on August 6.
Our analyst discusses the latest news and shares his trade ideas on gold, EUR/USD, and S&P 500. Jump in!