The Bank of Canada released the Canadian Overnight Rate that came out in line with expectations of 1.75%. Meaning that the bank did not change their interest rate.
The Bank of Canada said, "Weighing all of these factors, the Governing Council continues to judge that the policy interest rate will need to rise over time into a neutral range to achieve the inflation target. The appropriate pace of rate increases will depend on how the outlook evolves, with a particular focus on developments in oil markets, the Canadian housing market, and global trade policy."
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| Historical Data Table: Overnight Rate | Economic Calendar for 11.01.2019 | ||||||||
| Date | 11.07.2018 | 05.09.2018 | 24.10.2018 | 05.11.2018 | 09.01.2019 | 12:30 AM | AUD Retail Sales m/m | ||
| Actual | 1.50% | 1.50% | 1.75% | 1.75% | 1.75% | 9:30 AM | UK GDP m/m | ||
| Forecast | 1.50% | 1.50% | 1.75% | 1.75% | 1.75% | 13:30 PM | US CPI m/m | ||
| Initial Reaction on Main Pairs | Open Position Proportions on 10.01.2019 | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| AUD/CAD | 0.94965 | 0.94887 | -0.08% | AUD/CAD | 74.50% | 25.50% | |||
| CAD/CHF | 0.73659 | 0.73841 | 0.25% | CAD/CHF | 72.99% | 27.01% | |||
| EUR/CAD | 1.52465 | 1.52184 | -0.18% | EUR/CAD | 25.94% | 74.06% | |||
| USD/CAD | 1.32265 | 1.3205 | -0.16% | USD/CAD | 42.56% | 57.44% | |||