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The Canadian Dollar strengthened against the Greenback, following the Canadian Overnight Rate data release on Wednesday at 14:00 GMT. The USD/CAD currency pair lost 37 pips, or 0.28%, to continue fluctuating in the 1.3120 area.
The Bank of Canada changed their benchmark Interest Rate in line with expectations from 1.25% to 1.50%.
The governor of the Bank of Canada Stephen Poloz said, that he expect interest rate continue upward movement, and stands: "It's evident to us that higher interest rates will be warranted, but of course we're not in a position to say exactly how much higher or at what rate we might get there."
| Historical Data Table: Canadian Overnight Rate | Economic Calendar for 12.07.2018 | ||||||||
| Date | 17.01.2018 | 07.03.2018 | 18.04.2018 | 30.05.2018 | 11.07.2018 | 11:30 AM | UK ECB Monetary Policy Meeting Accounts | ||
| Actual | 1.25% | 1.25% | 1.25% | 1.25% | 1.50% | 12:30 PM | Canadian NHPI m/m | ||
| Forecast | 1.25% | 1.25% | 1.25% | 1.25% | 1.50% | 12:30 PM | US CPI m/m | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| AUD/CAD | 0.97269 | 0.96862 | -0.42% | AUD/CAD | 74.75% | 25.25% | |||
| CAD/CHF | 0.75433 | 0.75875 | 0.59% | CAD/CHF | 64.33% | 35.67% | |||
| EUR/CAD | 1.5434 | 1.53461 | -0.57% | EUR/CAD | 26.67% | 73.33% | |||
| USD/CAD | 1.31412 | 1.30684 | -0.55% | USD/CAD | 48.26% | 51.74% | |||