Subscribe To

Price Alert Latest News Economic Calendar News

USD/CAD erases the Bank of Canada move as US dollar rallies broadly

The Canadian dollar is back to where it was before the Bank of Canada decision to hike interest rates by 25 bps. The move took the overnight rate to 4.75%, which is the highest since 2001 and will add to the squeeze on consumers.Perhaps mitigating the decline was that the BOC toned down the hawkish rhetoric in the statement, suggesting that they aren't eager to hike further.Still, the hike brings Canadian short-term rates closer to the US and among the highest in the world. All that's suportive... Read More

Demo Live Account See Partner Details

Content Topics

Usd

Cad

Erases

Bank

Canada

Move

Dollar

Rallies

Broadly

Usd cad

Forex

Posted: Jun 7 2023, 17:59

Author Name: forexlive

Risk Disclosure:

Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
We would like to remind you that the data contained in this website is not necessarily real-time nor accurate.
The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. We and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of us and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website. We may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.