The US Dollar traded sideways against the Canadian Dollar, following the BOC Monetary Policy Report release on Wednesday at 14:00 GMT. The USD/CAD exchange currency rate gained 6 pips or 0.05% after the release. The Greenback continued trading at the 1.3575 level against the Loonie after the release.
The Bank of Canada released Canadian Overnight Rate, which came out in line with the expectations of 0.25%.
According to the official release: "The Canadian economy is starting to recover as it re-opens from the shutdowns needed to limit the virus spread. With economic activity in the second quarter estimated to have been 15 percent below its level at the end of 2019, this is the deepest decline in economic activity since the Great Depression, but considerably less severe than the worst scenarios presented in the April MPR. Decisive and necessary fiscal and monetary policy actions have supported incomes and kept credit flowing, cushioning the fall and laying the foundation for recovery. Since early June, the government has announced additional support programs, and extended others."
| Date | 13.03.20 | 27.03.20 | 15.04.20 | 03.06.20 | 15.07.20 |
|---|---|---|---|---|---|
| Actual | 0.75% | 0.25% | 0.25% | 0.25% | 0.25% |
| Forecast | - | - | 0.25% | 0.25% | 0.25% |
| Pair | Open | Close | Change |
|---|---|---|---|
| AUD/CAD | 0.95352 | 0.95348 | 0.00% |
| CAD/CHF | 0.6941 | 0.69373 | -0.05% |
| EUR/CAD | 1.55182 | 1.55181 | 0.00% |
| USD/CAD | 1.35793 | 1.35809 | 0.01% |
| Pair | Longs | Shorts |
|---|---|---|
| AUD/CAD | 30.2% | 69.8% |
| CAD/CHF | 65.2% | 34.8% |
| EUR/CAD | 28.8% | 71.2% |
| USD/CAD | 45.3% | 54.7% |
Economic calendar