USD/CAD: Canadian Overnight Rate

The US Dollar appreciated against the Canadian Dollar, following the Canadian Overnight Rate data release on Wednesday at 14:00 GMT. The USD/CAD exchange currency rate gained 38 pips or 0.28% right after the release. The Greenback continued trading at the 1.3525 level against the Canadian Dollar.

The Bank of Canada released the Canadian Overnight Rate data, which came out in line with expectations of 1.75%.

According to the official release: "Overall, recent data have reinforced Governing Council's view that the slowdown in late 2018 and early 2019 was temporary, although global trade risks have increased. In this context, the degree of accommodation being provided by the current policy interest rate remains appropriate. In taking future policy decisions, Governing Council will remain data dependent and especially attentive to developments in household spending, oil markets and the global trade environment."