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Webinar: Bank of Canada Rate Decision, Oil and the Canadian Dollar

Webinar: Bank of Canada Rate Decision, Oil and the Canadian Dollar

Nick Cawley, Senior Strategist


Talking Points

- The Bank of Canada to announce their latest monetary policy decision

- Will the OPEC meeting Thursday move the Loonie?

- See the DailyFX Economic Calendar and see what live coverage for key event risk impacting FX markets is scheduled for next week on the DailyFX Webinar Calendar.

Coverage of the latest Bank of Canada rate decision with no change expected and with no accompanying policy report. In this webinar we will look at the outlook for the Canadian Dollar, potential trade ideas and other external factors that may move the Loonie.

The 172nd OPEC meeting on Thursday, May 25, is more likely to move the Canadian Dollar due to the strong correlation between the two assets. With a 6-9 month production cut extension already priced into the market, any disappointment could send CAD tumbling.

Chart: USDCAD Daily Timeframe (Jan 26 – May 24, 2017)

Chart by IG

--- Written by Nick Cawley, Analyst

To contact Nick, email him at

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