Bank of Canada
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USD/CAD, CAD/JPY forecast: Canadian dollar analysis - July 24, 2024
The CAD/JPY trend has turned negative following this week’s big rally in the yen, while the USD/CAD will be in focus with the release of key US data in the coming days.
A complete guide to the Bank of Canada and interest rates
As with any central bank, when the Bank of Canada (BOC) changes interest rates, it can have a knock-on effect to stocks, indices and currencies. Find out everything you need to know about the BOC and how it’s decisions impact financial markets.
Canadian Dollar Technical Analysis: USD/CAD, EUR/CAD, CAD/JPY
USD/CAD extended a bullish breakout this week while starting re-test of the 1.3500 psychological level. Bulls held the move despite US CPI coming in below expectations and CAD/JPY retains breakout potential given an ascending triangle formation. EUR/CAD on the other hand may offer some pullback potential given a hold at a key Fibonacci level of resistance.
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Bank of Canada preview: At interest rates peak?
After a combined 425 basis points worth of hikes, the BOC has already signaled it would pause tightening to let the economy digest impact of previous hikes.
CAD/JPY pair to watch heading into BoC decision
A 25-basis-point hike is expected
Canadian Jobs report blew away estimates
The strong Employment Change out of Canada in October may give the BOC a bit more confidence to raise rates in December. However, the meeting is a long way off.
The BOC just dropped one of their preferred CPI measures
During a hawkish speech, the BOC governor outlined which of the three ‘preferred’ CPI measures they will no long focus on, and why.
The BOC just dropped one of their preferred CPI measures
During a hawkish speech, the BOC governor outlined which of the three ‘preferred’ CPI measures they will no long focus on, and why.
The BOC just dropped one of their preferred CPI measures
During a hawkish speech, the BOC governor outlined which of the three ‘preferred’ CPI measures they will no long focus on, and why.
Yes, inflation may have peak but it “remains far too high”
Sometimes the obvious needs to be said. And that is exactly what the BOC’s deputy governor said in his op-ed by stating inflation “remains far too high”.
Yes, inflation may have peak but it “remains far too high”
Sometimes the obvious needs to be said. And that is exactly what the BOC’s deputy governor said in his op-ed by stating inflation “remains far too high”.
Bank of Canada hikes 25bps. More to come!
The Bank of Canada raised rates for the first time since October 2018 by 25bps to 0.50%.
Bank of Canada leaves rates unchanged. Is it less hawkish now?
How many rate hikes are necessary to control inflation given that the BOC sees it returning to 2% over the long run?
Bank of Canada preview: Is the BOC ready to hike rates?
At its last meeting in December, the BOC said it doesn't see a rate hike until mid-2022. However, some seem to think it will hike at this meeting!
Bank of Canada Preview: When is the BOC looking to raise rates?
With inflation on the rise and a very strong jobs report for September, the Bank of Canada is likely to cut bonds purchases
BOC Drops its Hawkish Bias, USD/CAD Breaks Above 1.3500
To the surprise of no informed market participant, the Bank of Canada left interest rates unchanged at 1.75% in today’s monetary policy meeting. A pre-meeting Bloomberg poll of 24 economists showed this result was unanimously expected, so the “decision” itself didn’t lead to any meaningful market moves...
BOC Preview: Will Poloz and Company Shift into Neutral This Month…Or Next?
The Bank of Canada will deliver its interest rate “decision” and monetary policy statement in tomorrow morning’s US session. According to futures markets, traders are not expecting any changes to monetary policy tomorrow and only a 16% chance of a rate hike by the BOC’s July meeting.
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Week Ahead: Three Major Central Bank Decisions and NFP
Looking ahead, the upcoming week features interest rate decisions from three major central banks (RBA, BOC, and ECB), while data highlights include UK and US services PMIs, Aussie GDP, Chinese trade figures and jobs reports from both North American nations.
BOC unlikely to hike but Canadian dollar may rise nonetheless
The Bank of Canada is going to make a decision on whether to follow the US Federal Reserve and hike interest rates by 25 basis points when it concludes its meeting later on today.
USD/CAD Blasts Off to 18-Month Highs on BOC, OPEC on Tap
Despite US stock and bond markets closed in honor of President George H. W. Bush’s passing, we’ve seen a surprising amount of volatility in the FX market.
BOC rate hike looms but how will CAD react?
The Bank of Canada is due to increase interest rates to 1.75% at the conclusion of its meeting today. This will be an easy decision thanks to an improving economy and the fact that Canada finally secured a trade deal (USMCA) with its two southern neighbours.
USD/CAD Testing Bearish Channel Resistance Ahead of BOC Wednesday
The week has gotten off to a slow start in terms of impactful economic data, and the dearth of scheduled releases will carry over through tomorrow’s trade as well. That said, the latter half of the week should be more interesting for FX traders, starting with Wednesday’s Bank of Canada meeting.
USD/CAD Drops Back Below 1.30 as NAFTA Optimism Abounds
What a difference a week makes!