The Bank of Canada (BoC) will announce its interest rate decision at 15:00 GMT and a 25bp cut is broadly expected as analysts at Rabobank notes. USD/CAD is currently trading at 1.334. Key quotes “We expect the Bank of Canada to cut the policy rate 25bp to 1.50%. This marks a small shift given we have long expected the BoC to begin easing in April 2020.” “USD/CAD implied volatility was the lowest of any USD cross-currency year-to-date and over the course of the past 12 months but that recently changed as oil prices slumped on Covid-19 fears and rate expectations began to shift.” “Indeed, the relationship between USD/CAD and oil has risen significantly of late and weakness in the black stuff helped to push USD/CAD out of its recent range as it broke 1.3330 and tested the 1.34 handle.” “A close above 1.34 wasn’t followed by a subsequent higher close however and we are now back in the congestion zone of 1.33-1.34 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 AUD/USD climbs to fresh session highs near 0.6630, eyes on US data FX Street 3 years The Bank of Canada (BoC) will announce its interest rate decision at 15:00 GMT and a 25bp cut is broadly expected as analysts at Rabobank notes. USD/CAD is currently trading at 1.334. Key quotes “We expect the Bank of Canada to cut the policy rate 25bp to 1.50%. This marks a small shift given we have long expected the BoC to begin easing in April 2020.” “USD/CAD implied volatility was the lowest of any USD cross-currency year-to-date and over the course of the past 12 months but that recently changed as oil prices slumped on Covid-19 fears and rate expectations… 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.
