USD/CAD is set to jump in the opinion of analysts a Westpac Institutional Bank who are expecting further rates cuts from the Bank of Canada (BoC). USD/CAD is trading at 1.340. Key quotes “USD/CAD has further room to run higher as global growth downgrades continue apace and given ongoing skittish market, though key resistance levels around 1.35-1.36 may slow the pace near term, as will the prospect of more Fed cuts.” “The BoC delivered a strikingly downbeat near term assessment, the Bank citing lower commodity prices and a laundry list of domestic factors unrelated to COVID-19. Further cuts seem very likely.” “Markets are pricing in a 60% probability of an immediate BoC follow up at their next meeting on 15 April and a total of 40bp in easing over the course of 2020. If the global COVID-19 case count does not meaningfully stabilise in the next couple months and markets remain skittish the BoC is very likely to cut again at their next meeting.” “Trudeau’s government budget is due in coming weeks. Pressure is mounting for stepped-up fiscal measures to contain the COVID-19 fallout.” 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 Copper Futures: Upside remains capped FX Street 3 years USD/CAD is set to jump in the opinion of analysts a Westpac Institutional Bank who are expecting further rates cuts from the Bank of Canada (BoC). USD/CAD is trading at 1.340. Key quotes “USD/CAD has further room to run higher as global growth downgrades continue apace and given ongoing skittish market, though key resistance levels around 1.35-1.36 may slow the pace near term, as will the prospect of more Fed cuts.” “The BoC delivered a strikingly downbeat near term assessment, the Bank citing lower commodity prices and a laundry list of domestic factors unrelated to COVID-19. Further cuts seem very… 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.
