Will the CAD rise?

Will the CAD rise?

Bank of Canada announces its interest rate and gives a press conference on Wednesday at 17:00 MT time. 

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

During March, the Bank of Canada gradually reduced the interest rate from 1.75%, where it’s been since the end of 2018, to the current level of 0.25%. Monetary policymakers expressed their commitment to respond to the economic environment as required. That means, although emergency moves have been already taken, there may be more. Also, as the oil industry is the base factor for the country’s prosperity, the status of the oil price war will be taken into account by the Canadian financial authorities. If the outlook will be even moderately positive, it will boost the CAD.

  • If the Bank of Canada is hawkish, CAD will rise.
  • If the Bank of Canada is dovish, CAD will fall.

Check the economic calendar

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Latest news

FED and BOE Make Another Attempt to Beat Inflation
FED and BOE Make Another Attempt to Beat Inflation

The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.

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