The Bank of Canada May Push the CAD

The Bank of Canada May Push the CAD

What will happen?

The Bank of Canada will publish a rate statement and update on the interest rate on Wednesday, at 17:00 MT time. The statement normally contains commentary about the economic conditions and insights into further monetary policy decisions. A recent survey by the Bank of Canada showed improving business sentiment as vaccines roll out. This situation may indicate that the BOC is looking forward to more hawkish steps.

How to trade on the BOC Interest Rate Decision?

Due to analysts' predictions, traders need to pay particular attention to the changes made in the statement. If the Bank of Canada expresses readiness for an earlier-than-expected rate hike, the Canadian dollar may strengthen. 

  • If the BOC suggests tightening of its monetary policy, the CAD will strengthen;
  • If the BOC expresses cautiousness, the CAD will weaken.

Check the economic calendar

Instruments to trade: USD/CAD, EUR/CAD, CAD/JPY

cad.jpg

START TRADING

Similar

Latest news

No More US Debts in Sight
No More US Debts in Sight

The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera