The US Dollar depreciated against the Canadian Dollar, following the BOC Rate Statement release on Wednesday at 14:00 GMT. The USD/CAD exchange currency rate lost 32 pips or 0.24% after the release. The Greenback continued trading at the 1.3500 level against the Canadian Dollar after the release.
The Bank of Canada released the Canadian Overnight Rate data, which came out in line with the expectations of 0.25%. Note that the US ISM Non-Manufacturing survey results were released at the same time.
According to the official release: "Incoming data confirm the severe impact of the COVID-19 pandemic on the global economy. This impact appears to have peaked, although uncertainty about how the recovery will unfold remains high. Massive policy responses in advanced economies have helped to replace lost income and cushion the effect of economic shutdowns. Financial conditions have improved, and commodity prices have risen in recent weeks after falling sharply earlier this year. Because different countries' containment measures will be lifted at different times, the global recovery likely will be protracted and uneven."
| Date | 04.03.20 | 13.03.20 | 27.03.20 | 15.04.20 | 03.06.20 |
|---|---|---|---|---|---|
| Actual | 1.25% | 0.75% | 0.25% | 0.25% | 0.25% |
| Forecast | 1.25% | - | - | 0.25% | 0.25% |
| Pair | Open | Close | Change |
|---|---|---|---|
| AUD/CAD | 0.93446 | 0.93312 | -0.14% |
| CAD/CHF | 0.71155 | 0.7134 | 0.26% |
| EUR/CAD | 1.51829 | 1.51476 | -0.23% |
| USD/CAD | 1.35355 | 1.34995 | -0.27% |
| Pair | Longs | Shorts |
|---|---|---|
| AUD/CAD | 40.7% | 59.3% |
| CAD/CHF | 59.5% | 40.6% |
| EUR/CAD | 59.1% | 40.9% |
| USD/CAD | 52.5% | 47.5% |
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