USD/CAD reacts to central banks

Note: This section contains information in English only.
Source: Dukascopy Bank SA


On January 26, the Bank of Canada made a Rate Statement. In general, the bank kept its Overnight Rate at 0.25% and is set to keep its investments in government bonds constant. However, the markets could have reacted to the news that the bank would remove its exceptional forward guidance on its policy interest rate.

On the release, the USD/CAD reacted by immediately jumping 86 base points or 0.68%.

In regards to the near term future, first of all note that the FOMC Statement and Press Conference at 19:00 and 19:30 GMT are bound to crash technical analysis, as the value of the USD will adjust to the event. Namely, hints at future rate hikes are bound to be an above all event.
Back to articles

Actual Topics

Thu, 27 Jan 2022 09:20:32 GMT

EUR/JPY remains in pattern

The EUR/JPY remains in the junior channel down pattern. However, for a short period of time, the currency pair had traded outside its borders, on Wednesday. On Thursday morning, the currency exchange rate had declined and found support in the 128.50 mark. If the currency pair continues to surge, it would have to pass the resistance of the 50-hour simple

Wed, 26 Jan 2022 16:46:58 GMT

GBP/JPY breaks pattern

A fundamental announcement of the Japanese government beat down all Japanese assets and the Yen on Wednesday. Namely, the government announced recently that it would support Ukraine and NATO in a potential war with Russia. The news have caused a gradual fundamental surge of the rate, which broke the post January 12 channel down pattern. In addition, during late Wednesday's

Subscribe to "Fundamental Analysis" feed

Souscrire
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.