USD/CAD slumped as BOC raised rate

USD/CAD slumped as BOC raised rate

The meeting of the Bank of Canada turned out to be eventful. The central bank increased the overnight rate from 0.75% to 1.00%. Such move caught the market by surprise: the majority of market players had thought that the rate would remain unchanged.

The Bank of Canada pointed out that the recent economic figures exceeded forecasts. The regulator acknowledged widespread strength in business investment and exports, as well as robust consumer spending. A moderation in the pace of economic growth is expected in the second half of this year.

The BOC statement doesn’t exclude the possibility of another rate hike in the months ahead. It said that future monetary decisions are not predetermined.

USD/CAD fell from levels around 1.2400 to 1.2133, the lowest level since June 2015.

CAD22.png

Similar

How Low  Can the EUR Plunge?
How Low Can the EUR Plunge?

Nothing can stop us from finding hgh quality trades and impactful news. This market wrap proves it, here’s what you need to know:

Canadian Key Rate is in Focus Today
Canadian Key Rate is in Focus Today

BoC will highly likely leave the rate at 5%. Meanwhile, USDJPY overcame the BOJ intervention level. What's happening in the markets? Check our review here.

Risky Assets Are Flying Again
Risky Assets Are Flying Again

Coinbase (COIN) gained 15% yesterday, and Bitcoin increased over 6% after Grayscale's victory in court against the SEC. Read the full report to get more valuable insights!

Latest news

The Yen Sets New Lows
The Yen Sets New Lows

The Japanese yen fell to its lowest level against the US dollar in 33 years. Read the full report to learn the next target for USDJPY!

BlackRock CEO Supports The USD
BlackRock CEO Supports The USD

BlackRock CEO forecasts the Fed may have to raise rates further. The US dollar index (DXY) gains 130 points today. Read the full report to get more fresh news and technical analysis!

Deposit with your local payment systems

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!

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