News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Real Time News
  • USD/CAD is set to snap a five-day sell-off with today’s rally breaking near-term downtrend resistance. Get your $USDCAD market update from @MBForex here:
  • US natural gas prices continue to rise, with Henry Hub futures eyeing the 2014 high of $6.493 mmBtu $NG $NG_F
  • Blackrock says it is dipping its toes back into China's equity market after the recent sell-off #trading
  • Blackrock says it is dipping its toes back into China equity market the recent sell-off #trading
  • I don't think you could make a chart more technically provocative for me than what the $SPY S&P 500 ETF is offering up. That said, doesn't have to break and follow through has been notoriously scarce on the downside
  • #Nasdaq Tanks on Rising U.S. Yields, ARKK Appears to Confirm a Double Top Pattern #trading $ARKK $NDX
  • #Nasdaq Tanks on Rising U.S. Yields, ARKK Appears to Confirm Double Top Patter #trading $ARKK $NDX
  • I'm all for the diversify, but we are missing some steps between A and Z here...
  • Seeing articles show up in my search results that are obvious plants from traditional investment firms trying to get the new generation to open the traditional and passive account types they operate
  • The options market can be an excellent place to express trading ideas, as it presents numerous ways to structure trades with various risk profiles. Learn to trade the Options market with DailyFX. Download your free guide here!
USD/CAD Lower on Central Bank Rate Decision

USD/CAD Lower on Central Bank Rate Decision

Gregory Marks,

THE TAKEAWAY: Bank of Canada leaves interest rates unchanged at 1.00% -> Emerging-market volatility and a U.S. economy with less momentum than forecasted are negative factors cited -> USD/CAD Lower

The Bank of Canada left its key benchmark interest rate unchanged as expected at 1.00% on Wednesday. Following the announcement, the Canadian Dollar strengthened against the greenback as the central bank’s policy statement did not produce dovish remarks to hint at any policy moves in the near term.

While the Bank of Canada said that the output gap has begun to narrow, it was mentioned that the U.S. has had slightly less momentum than had been previously forecasted. Another headwind for Canada and the globally economy cited in the release was financial volatility in emerging-markets. Although the brief policy statement cited more negative than positive factors, market participants did not take this to mean further moves in the near term to counter those concerns.

USD/CAD 5-Minute Chart

USDCAD_Lower_on_Central_Bank_Rate_Decision_body_Picture_1.png, USD/CAD Lower on Central Bank Rate Decision

Source: MarketScope

Written by Gregory Marks, DailyFX Research Team

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.