The Canadian dollar bucks the US dollar strengthening trend as the Bank of Canada’s rate statement is bullish on the local economy. USD/CAD is sliding from the highs above 1.14 to 1.1360. The institution lead by Governor Stephen Poloz did admit that the lower prices of oil and other commodities weigh on the economy and did express some disappointment on global growth. However, the local picture looks good: stronger exports trigger more business investment and also employment. The BOC still says that higher inflation is due to temporary factors, even though this is already an ongoing phenomenon. All in all, the output gap seems to be smaller than what was projected back in October. This is a positive BOC statement: Canada’s economy is showing signs of a broadening recovery. Stronger exports are beginning to be reflected in increased business investment and employment. This suggests that the hoped-for sequence of rebuilding that will lead to balanced and self-sustaining growth may finally have begun. However, the lower profile for oil and certain other commodity prices will weigh on the Canadian economy. USD/CAD is moving down. Here is the chart: 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. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next Interview at Unusual Activity: ECB meeting, state of the Yohay Elam 7 years The Canadian dollar bucks the US dollar strengthening trend as the Bank of Canada's rate statement is bullish on the local economy. USD/CAD is sliding from the highs above 1.14 to 1.1360. The institution lead by Governor Stephen Poloz did admit that the lower prices of oil and other commodities weigh on the economy and did express some disappointment on global growth. However, the local picture looks good: stronger exports trigger more business investment and also employment. The BOC still says that higher inflation is due to temporary factors, even though this is already an ongoing phenomenon. All in all,… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
