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.
US currency regains footing after American government shutdown
On Monday, the evergreen buck regained some footing having dived earlier on an American government shutdown, underpinned by higher Treasury yields. Meanwhile, traders took rather a calm view of the crisis in Washington.
On Friday, the American government shutdown occurred after Republicans and Democrats, locked in a fierce clash as for immigration as well as border security, turned to be unable to agree on a last-minute deal to finance government operations.
On Sunday, Republican and Democratic leaders held negotiations for the purpose of breaking the impasse.
The US dollar index versus a basket of six key currencies initially went down to 90.155, although last it gained 0.1%, managing to stay above the three-year minimums of 90.113 reached on Thursday.
The euro declined to $1.2221 having soared to $1.2275, although unable to regain the three-year maximum of $1.2323 hit on Wednesday.
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