Ready to Get Started?
Start here. Join over 3M Libertex users around the world!
Bank of Canada rate cut came and went and the USD/CAD fell
In what was prime example of what could be described as a monetary policy non-event this afternoon, the Bank of Canada did as expected and lowered their OCR by 0.50%. This outcome was pretty much baked into the markets. The USD/CAD was trading close to session highs leading into this, around 1.4190. The reaction since has been one-way lower. The USD/CAD fell back to 1.4120. It is off the low now, but the rebound is not exactly convincing at this stage. That is despite comments from the BOC governor, Macklem suggesting that growth is faltering more than thought. As to whether the USD/CAD can rebound further now is not out of the question, but clearly this cut was rather priced in near 1.4200. The USD/CAD is right now at 1.4136
Market News
All News-
BOE boss continues to add caution over UK inflation- EUR/GBP on course for a negative daily close
Following the Bank of England decision to leave interest rates unchanged at 4.5%, the BOE governor, Andrew Bailey has been speaking this afternoon... -
S+P 500 back above 5,700 this afternoon
At one point earlier today when the S+P 500 futures were pricing an opening close to 5,625, it seemed unlikely they might push back above 5,700 this... -
US stocks kick off in the red but opening losses pared- check out the Nasdaq 100 now
The US stock markets have not long ago opened for live trading and it has been an across the board lower start to the new trading session. The dollar...
