What’s new with CAD?

What’s new with CAD?

What will happen?

The Bank of Canada will reveal the overnight rate and make a statement on March 2, at 17:00 MT time. This release is important for the CAD movement and all pairs that include this currency. The rate decision is usually priced in by the market. In simple words, traders are aware of forecasted changes, and that's reflected in the current price. But they never know what will be in the BOC statement, so it may have a bigger impact on the market. The Bank of Canada reviews the overnight rate eight times a year.

How will CAD react?

Since March 2020, when the COVID-19 pandemic stroke, the overnight rate has been steady at 0.25% and hasn’t done any surprising movements, as experts expected. However, the inflation rate in Canada is 5.1%, it’s the highest level since 1991. Nevertheless, there are still plenty of struggles in supply chains. The prices for energy are high as well. Because of high inflation, the interest rate can go up this time.

On January 26, 2022, the release wasn’t advantageous for CAD. After the release, CAD fell against USD by approximately 1200 points. It seems the currency needs stronger actions.


How to trade on the Canadian Overnight Rate Release?

If the actual rate is higher than forecasted, it's better for the currency.

Short-term interest rates are essential while valuing a currency. Thus, traders analyze other indicators just in order to predict rates’ further movements.

Check Economic Calendar.

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


Can the UK CPI surprise?
Can the UK CPI surprise?

The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.

The US Retail Sales Update
The US Retail Sales Update

The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.

Latest news

Deposit with your local payment systems

Be on top of your game

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.


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