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Forex News

Jumps to fresh 1-week tops, bulls likely to aim 1.4160-70 supply zone

USD/CAD turns positive for the fourth consecutive session on Thursday. The set-up supports prospects for a move back towards 1.4160-70 area. The USD/CAD pair reversed an early dip to the 1.4070 region and turn...

USD/CAD spikes to session tops, around mid-1.4100s in reaction to BoC’s surprise rate cut
Forex News

USD/CAD spikes to session tops, around mid-1.4100s in reaction to BoC’s surprise rate cut

USD/CAD stages a solid intraday recovery from sub-1.4000 levels, or 1-1/2 week lows. Sliding oil prices, a goodish pickup in the USD demand led to the initial leg of recovery. The BoC’s surprise decision to cut...

USD/CAD to move higher on BoC and data – TD Securities
Forex News

USD/CAD topples the 1.40 handle as dollar bloc gets hit by COVID-19 fear

USD/CAD cuts into the 1.40 level as the dollar bloc take the brunt of commodities in decline. COVID-19 is biting its way into global economies, weighing on the outlook for commodities.  In a busy start to the ...

USD/CAD to move higher on BoC and data – TD Securities
Forex News

USD/CAD rises toward 1.3980 after BoC cuts rates in a surprise move

Bank of Canada lowers overnight target rate by 50 basis points on negative economic shock from coronavirus.  USD/CAD rises but then quickly retreats, it holds under 1.4000 The USD/CAD rose from 1.3905 to 1.397...

USD/CAD: ????????? ???? – Rabobank
Forex News

A break above 1.40 is on the cards – Westpac

Canada is very vulnerable to the twin oil and coronavirus shock given great energy export dependence and leverage to the US. USD/CAD is up 5.8% year to date and looking very over-extended but with reasons to se...

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Forex News

Rate cuts are a blunt tool but can help consumer confidence

In an interview with BNN Bloomberg on Thursday, the Bank of Canada (BOC) Governor Poloz said rate cuts are a blunt tool but can help consumer confidence. Additional quotes: The level of coordination among cent...

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Forex News

Resilience of the Canadian economy could be seriously tested by coronavirus

In a scheduled speech delivered on Thursday, the Bank of Canada (BOC) Governor Stephen Poloz said that the resilience of the Canadian economy could be seriously tested by coronavirus, depending on the severity ...

Trade deficit narrowed to $370 million in December
Forex News

Further cuts seem likely – Westpac

USD/CAD is set to jump in the opinion of analysts a Westpac Institutional Bank who are expecting further rates cuts from the Bank of Canada (BoC). USD/CAD is trading at 1.340.  Key quotes “USD/CAD has further r...

USD/CAD: ????????? ???? – Rabobank
Forex News

USD/CAD jumps to 1.3415 after BoC 50bps rate cut

Canadian dollar falls across the board after Bank of Canada cut rates by 50bps.  USD/CAD could post highest daily close since June if ends above 1.3400.  The USD/CAD pair rose from a daily low of 1.3327, reach...

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Forex News

Holds above 200-hour SMA pivotal point ahead of BoC

USD/CAD meets with some fresh supply near 1.3400 mark on Wednesday. The downside remains cushioned ahead of BoC monetary policy decision. The USD/CAD pair failed to capitalize on the overnight positive move an...