
Nothing can stop us from finding hgh quality trades and impactful news. This market wrap proves it, here’s what you need to know:
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. Until now, the bank has made no major changes to the monetary policy since the end of the lockdown. As the outlook of the Canadian economy is improving, analysts project a shift in the central bank’s tone. If it’s true, the BOC will hike the interest rate earlier than in 2023.
Due to analysts' predictions, traders need to pay particular attention to the changes made in the statement. If analysts’ predictions are correct and the Bank of Canada expresses readiness for a rate hike before 2023, the Canadian dollar may strengthen.
Instruments to trade: USD/CAD, EUR/CAD, CAD/JPY
Nothing can stop us from finding hgh quality trades and impactful news. This market wrap proves it, here’s what you need to know:
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