The US Dollar appreciated against the Canadian Dollar, following the BOC Monetary Policy Report release on Wednesday at 14:00 GMT. The USD/CAD exchange currency rate gained 47 pips or 0.36% after the release. The Greenback continued trading at the 1.3320 level against the Loonie after the release.
The Bank of Canada released the Canadian Overnight Rate data, which came out in line with the expectations of 0.25%.
According to the official release: "The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The Bank is maintaining its extraordinary forward guidance, reinforced and supplemented by its quantitative easing (QE) program. The Bank is recalibrating the QE program to shift purchases towards longer-term bonds, which have more direct influence on the borrowing rates that are most important for households and businesses. At the same time, total purchases will be gradually reduced to at least $4 billion a week. The Governing Council judges that, with these combined adjustments, the QE program is providing at least as much monetary stimulus as before."
| Date | 15.04.20 | 03.06.20 | 15.07.20 | 09.09.20 | 28.10.20 |
|---|---|---|---|---|---|
| Actual | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
| Forecast | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
| Pair | Open | Close | Change |
|---|---|---|---|
| AUD/CAD | 0.93764 | 0.93795 | 0.03% |
| CAD/CHF | 0.68628 | 0.68412 | -0.31% |
| EUR/CAD | 1.55838 | 1.56121 | 0.18% |
| USD/CAD | 1.32805 | 1.33113 | 0.23% |
| Pair | Longs | Shorts |
|---|---|---|
| AUD/CAD | 44.1% | 56.0% |
| CAD/CHF | 72.1% | 28.0% |
| EUR/CAD | 27.6% | 72.4% |
| USD/CAD | 65.5% | 34.5% |
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