USD/CAD mas managed to leave the range. The pair is now targeting higher levels.
Tag - cad - canadian dollar
The Bank of Canada decided to keep the current policy unchanged as widely expected. However, the bank did not mention anything about tapering again in July.
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All eyes are headed toward the Bank of Canada today. Estimates point to no change both for the main rate and the ongoing QE which stands at $3B weekly.
The greatest sale of Bitcoin continues! It has approached the psychological mark of $30,000. The traders’ focus remains on Thursday’s report on US inflation.
The Bank of Canada releases a monetary policy statement with an update on the interest rate on June 9, at 17:00 MT time.
Don’t expect to relax after a super volatile previous week! The market is getting ready for yet another roller-coaster!
USD/CAD managed to advance further yesterday breaking above 1.21, reaching as high as 1.2128 earlier today, while our long signal that was issued at 1.2060 is now in profit with over +60 pips.
US unemployment claims fell to the pandemic low. Joe Biden will unveil a $6-trillion budget on Friday. In the meantime, Bitcoin was hit after negative comments from one of the central bankers.
USD/CAD managed to bounce off its support area mentioned in our previous report at 1.2060’s and continued to rise throughout yesterday’s trading reaching as high as 1.2141
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