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Bank of Canada preview: Loonie hits five-month low ahead of rate decision. What's next

Bank of Canada preview: Loonie hits five-month low ahead of rate decision. What's next
The Canadian dollar is undoubtedly a commodity currency and its largest export by far is crude oil. So why is oil at a 10-month high and the Canadian dollar at a 5-month low?Here are some of the things dragging down the loonie:Worries about global growth -- predominately in China -- weighing on commodity demand laterFear that a bubble in Canadian home prices is burstingExpectations that the Bank of Canada won't hike rates this week and could be relatively quick to cutSigns that the Canadian econ... Read More
Posted: Sep 5 2023, 19:03
Author Name: forexlive
Views: 092140

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