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USD/CAD jumps on the BOC wording about caution despite being hawkish otherwise

Yohay Elam
Updated:

The Bank of Canada left the interest rate unchanged at 1.25% as widely expected and expressed a mix of caution despite optimism. They are pleased with wage and inflation growth and also see the economy rebounding in Q2. However, they say that rate hikes will be gradual and they will be cautious with them.

USD/CAD jumped on the caution phrase and topped 1.26. However, things may still change at the press conference.
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Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

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