Bank of Canada

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Canadian Jobs report blew away estimates

The strong Employment Change out of Canada in October may give the BOC a bit more confidence to raise rates in December. However, the meeting is a long way off.

Research

The BOC just dropped one of their preferred CPI measures

During a hawkish speech, the BOC governor outlined which of the three ‘preferred’ CPI measures they will no long focus on, and why.

Research

The BOC just dropped one of their preferred CPI measures

During a hawkish speech, the BOC governor outlined which of the three ‘preferred’ CPI measures they will no long focus on, and why.

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Research

Yes, inflation may have peak but it “remains far too high”

Sometimes the obvious needs to be said. And that is exactly what the BOC’s deputy governor said in his op-ed by stating inflation “remains far too high”.

Bank of Canada hikes 25bps. More to come!

The Bank of Canada raised rates for the first time since October 2018 by 25bps to 0.50%.

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March 2, 2022 07:16 PM

Bank of Canada leaves rates unchanged. Is it less hawkish now?

How many rate hikes are necessary to control inflation given that the BOC sees it returning to 2% over the long run?

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January 26, 2022 04:42 PM

Bank of Canada preview: Is the BOC ready to hike rates?

At its last meeting in December, the BOC said it doesn't see a rate hike until mid-2022. However, some seem to think it will hike at this meeting!

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January 24, 2022 09:56 PM
Currency prices

Bank of Canada Preview: When is the BOC looking to raise rates?

With inflation on the rise and a very strong jobs report for September, the Bank of Canada is likely to cut bonds purchases

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October 25, 2021 09:17 PM

BOC Drops its Hawkish Bias, USD/CAD Breaks Above 1.3500

To the surprise of no informed market participant, the Bank of Canada left interest rates unchanged at 1.75% in today’s monetary policy meeting. A pre-meeting Bloomberg poll of 24 economists showed this result was unanimously expected, so the “decision” itself didn’t lead to any meaningful market moves...

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April 24, 2019 12:20 PM

BOC Preview: Will Poloz and Company Shift into Neutral This Month…Or Next?

The Bank of Canada will deliver its interest rate “decision” and monetary policy statement in tomorrow morning’s US session. According to futures markets, traders are not expecting any changes to monetary policy tomorrow and only a 16% chance of a rate hike by the BOC’s July meeting.

Week Ahead: Three Major Central Bank Decisions and NFP

Looking ahead, the upcoming week features interest rate decisions from three major central banks (RBA, BOC, and ECB), while data highlights include UK and US services PMIs, Aussie GDP, Chinese trade figures and jobs reports from both North American nations.

BOC unlikely to hike but Canadian dollar may rise nonetheless

The Bank of Canada is going to make a decision on whether to follow the US Federal Reserve and hike interest rates by 25 basis points when it concludes its meeting later on today.

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January 9, 2019 06:10 AM

USD/CAD Blasts Off to 18-Month Highs on BOC, OPEC on Tap

Despite US stock and bond markets closed in honor of President George H. W. Bush’s passing, we’ve seen a surprising amount of volatility in the FX market.

BOC rate hike looms but how will CAD react?

The Bank of Canada is due to increase interest rates to 1.75% at the conclusion of its meeting today. This will be an easy decision thanks to an improving economy and the fact that Canada finally secured a trade deal (USMCA) with its two southern neighbours.

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October 24, 2018 08:30 AM

USD/CAD Testing Bearish Channel Resistance Ahead of BOC Wednesday

The week has gotten off to a slow start in terms of impactful economic data, and the dearth of scheduled releases will carry over through tomorrow’s trade as well. That said, the latter half of the week should be more interesting for FX traders, starting with Wednesday’s Bank of Canada meeting.

USD/CAD Tanks After CA Inflation Surprise, Will Bears Target < 1.30 Next?

With price pressures still running at a subdued level throughout the developed world, hotter-than-expected inflation readings have been hard to come by of late. Perhaps today’s Canadian inflation data marks a turning point for that trend.

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USD/CAD at key juncture ahead of US CPI and Canadian jobs data

After this morning’s big moves in the Turkish Lira, euro and pound, and the sizeable stock market falls, more volatility is expected in the early North American session. That’s because we will have important data from both the US and Canada, making the USD/CAD a particularly interesting pair to watch when the data are released at 13:30 BST (08:30 EDT).

CAD/JPY could stage breakout on hawkish BoC

One interesting yen pair to watch this week could actually be the CAD/JPY, due to the Bank of Canada’s rate decision tomorrow.

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July 10, 2018 11:59 AM

BOC Preview: How the loonie could fall, even if Poloz and company hike rates

While the Federal Reserve has grabbed all the headlines for raising interest rates lately, its neighbor to the north has actually been just as aggressive in tightening policy over the last year.

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July 10, 2018 11:19 AM

USD/CAD holds below 1.30 ahead of US data and BOC

While the focus of the wider market will undoubtedly remain largely on Italy and the ongoing volatility in the bond and stock markets, some FX traders’ focus will momentarily turn away from politics and back to economic fundamentals today. That’s because we have key data coming from the US later on today while the Bank of Canada is also scheduled to make a rate announcement.

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May 30, 2018 08:37 AM

USD/CAD remains bearish ahead of Bank of Canada

The US dollar took a hit to begin the week on Monday after US President Trump issued a tweet that decried rising US interest rates amid his assessment that Russia and China are actively devaluing their respective currencies.

USD/CAD’s sustained slide potentially poised to extend further

USD/CAD has continued to slide for much of the past three weeks as the US dollar has remained under sustained pressure while the Canadian dollar has benefited from, among other factors, provisional exemption from US President Trump’s imposition of import tariffs.