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Canadian Dollar Technical Analysis: USD/CAD Breakout Ahead of FOMC, NFP

USD/CAD put in a strong breakout last week and price ran to a key zone of resistance. The question now is whether bulls can continue to drive and US and Canadian employment numbers are on the calendar for this Friday.


Canadian Dollar Technical Analysis: USD/CAD, EUR/CAD, GBP/CAD

Tiff Macklem kept the door open for more rate hikes out of Canada last week, and tomorrow brings inflation data ahead of next week’s Bank of Canada rate decision.


Canadian Dollar Technical Analysis: USD/CAD, EUR/CAD, CAD/JPY

USD/CAD extended a bullish breakout this week while starting re-test of the 1.3500 psychological level. Bulls held the move despite US CPI coming in below expectations and CAD/JPY retains breakout potential given an ascending triangle formation. EUR/CAD on the other hand may offer some pullback potential given a hold at a key Fibonacci level of resistance.

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Canadian Dollar Forecast: USD/CAD Clings to Recovery Ahead of BoC

USD/CAD snapped back aggressively on Friday, bringing to question a recovery move ahead of the Bank of Canada rate decision scheduled for this Wednesday.

Bank of Canada preview: At interest rates peak?

After a combined 425 basis points worth of hikes, the BOC has already signaled it would pause tightening to let the economy digest impact of previous hikes.

USD/CAD struggles to test January high ahead of BoC rate decision

The Bank of Canada (BoC) interest rate decision on March 8 may prop up USD/CAD as the central bank moves to the sidelines.

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By : David Song
March 3, 2023 01:30 PM

CAD/JPY pair to watch heading into BoC decision

A 25-basis-point hike is expected

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January 25, 2023 07:41 AM

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.

November 7, 2022 03:38 PM

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.


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.


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%.

March 2, 2022 02:16 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?

January 26, 2022 11:42 AM

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!

January 24, 2022 04:56 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

October 25, 2021 04:17 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 07:20 AM

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.

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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 01:10 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 03:30 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.