The US Dollar traded sideways against the Canadian Dollar, following the BOC Rate Statement release on Wednesday at 14:00 GMT. The USD/CAD exchange currency rate lost 1 pips or 0.01% after the release. The Greenback continued trading at the 1.3200 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. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. The Bank is also continuing its quantitative easing (QE) program, with large-scale asset purchases of at least $5 billion per week of Government of Canada bonds."
| Date | 27.03.20 | 15.04.20 | 03.06.20 | 15.07.20 | 09.09.20 |
|---|---|---|---|---|---|
| Actual | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
| Forecast | - | 0.25% | 0.25% | 0.25% | 0.25% |
| Pair | Open | Close | Change |
|---|---|---|---|
| AUD/CAD | 0.96018 | 0.95931 | -0.09% |
| CAD/CHF | 0.69284 | 0.69315 | 0.04% |
| EUR/CAD | 1.56015 | 1.55865 | -0.10% |
| USD/CAD | 1.32027 | 1.31922 | -0.08% |
| Pair | Longs | Shorts |
|---|---|---|
| AUD/CAD | 25.7% | 74.3% |
| CAD/CHF | 67.1% | 32.9% |
| EUR/CAD | 39.1% | 60.9% |
| USD/CAD | 70.2% | 29.8% |
| GMT | Currency | Event | Forecast | Previous |
|---|---|---|---|---|
| 7:15 | EUR | French Flash Services PMI | 53.1 | 53.4 |
| 7:30 | EUR | German Flash Manufacturing PMI | 44.6 | 43.5 |
| 7:30 | EUR | German Flash Services PMI | 54.3 | 54.8 |
Economic calendar