The Bank of Canada today maintained its target for the overnight rate at 1 ¼ per cent.
The Bank Rate is correspondingly 1 ½ per cent and the deposit rate is 1 per cent. Continue reading
The Canadian dollar (pair USDCAD) is consolidating in a narrow range during the last nine trading days.
This range is highlighted on the graph with a blue rectangle and is bounded by the values 1.28120 – 1.28970. Continue reading
After correction to the growing trend, the USDCAD currency pair is in a long consolidation.
The pair is consolidated within the last eight trading days. Continue reading
The Bank of Canada today increased its target for the overnight rate to 1 1/4 per cent. The Bank Rate is correspondingly 1 1/2 per cent and the deposit rate is 1 per cent. Recent data have been strong, inflation is close to target, and the economy is operating roughly at capacity. However, uncertainty surrounding the future of the North American Free Trade Agreement (NAFTA) is clouding the economic outlook.
The global economy continues to strengthen, with growth expected to average 3 1/2 per cent over the projection horizon. Growth in advanced economies is projected to be stronger than in the Bank’s October Monetary Policy Report(MPR). In particular, there are signs of increasing momentum in the US economy, which will be boosted further by recent tax changes. Global commodity prices are higher, although the benefits to Canada are being diluted by wider spreads between benchmark world and Canadian oil prices. Continue reading
The Bank of Canada today maintained its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.
The global economy is evolving largely as expected in the Bank’s October Monetary Policy Report (MPR). In the United States, growth in the third quarter was stronger than forecast but is still expected to moderate in the months ahead. Growth has firmed in other advanced economies. Meanwhile, oil prices have moved higher and financial conditions have eased. The global outlook remains subject to considerable uncertainty, notably about geopolitical developments and trade policies. Continue reading
The currency pair USDCAD is traded for a long time in the uplink. At the moment, the resistance is at a strong daily level of 1.27630-1.27800, support at 1.27020.
The pair completed the correction directly on the lower border of the rising channel and turned up. Looking at the M30, we see that for the whole week the pair tested the lower border of the channel every day, and each time the bulls turned out to be stronger and drove USDCAD back into the channel. Continue reading