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Bank of Canada lowers benchmark rate as expected by 0.25%- USD/CAD edges down
The Bank of Canada has just done what the markets expected and delivered a 0.25% interest rate cut, taking the headline rate down to 3%. So, there is no surprise about this across the markets. Ahead of this outcome the USD/CAD had been stepping back from an earlier session high, at 1.4472. The price was falling back below 1.4440. The reaction to the news has seen it not move higher immediately following the decision. The BOC governor will debrief the press on this decision at 3.30pm GMT. The USD/CAD is right now trading at 1.4428
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US stock markets open lower this afternoon- check out the S+P 500 futures
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Gold rises above technical resistance to set a new record high this afternoon
Since the last update here on Gold, the metal has now tested and taken out the noted trend line resistance level, in place around $3,029 per ounce...
