The Bank of Canada cut rates by 50 bps today, which represents a downside shock relative to market expectations, analysts at TD Securities report. USD/CAD trades at 1340 after escalating with the news. Key quotes “The Bank of Canada cut rates by 50bps at the March policy meeting, opting for a more proactive approach relative to a forecasting community that was divided between a 25bp or 50bp cut.” “We continue to look for another 25bp cut in April. Additionally, we think the odds favour an additional 25bp rate cut in June.” “We think USD/CAD is unlikely to mark new ground. Things should settle ahead of the recent highs of 1.3465, especially as we expect another Fed cut at the March meeting.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US: Dollar to reign – Rabobank FX Street 2 years The Bank of Canada cut rates by 50 bps today, which represents a downside shock relative to market expectations, analysts at TD Securities report. USD/CAD trades at 1340 after escalating with the news. Key quotes “The Bank of Canada cut rates by 50bps at the March policy meeting, opting for a more proactive approach relative to a forecasting community that was divided between a 25bp or 50bp cut.” “We continue to look for another 25bp cut in April. Additionally, we think the odds favour an additional 25bp rate cut in June.” “We think USD/CAD is unlikely to mark new ground.… Regulated 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.
