There are a couple of central bank decision to watch today, primarily Canada at 15:00 GMT. The Canadian economy has gone through a rough ride recently, with recent indicators suggesting some stabilisation, but concerns remain and the market is pricing the risk (around one-third) that rates are cut this year. The recent reversal of the currency is also a factor likely to be discussed at the meeting today, given the Canadian dollar is nearly 10% higher vs. the US dollar from the USDCAD highs seen in January. This makes it the strongest major over this period, but the recovery is not surprising given the changes to the risk environment and oil price over this period. It’s going to be the tone of the statement that determines the currency reaction. For New Zealand, the scope for a near-term move is a lot less, although there are a couple of institutions in the market thinking that they will cut rates from the current 2.25%, so it’s worth keeping an eye on the outcome. Eslewhere, we are seeing a modest bid on the dollar at the start of the European session, with this being seen most notable on the risk currencies, such as the Aussie, which is pushing towards the 0.75 level. On the other side, USDJPY hardly moving. The single currency is more reluctant to join in ahead of tomorrow’s crucial ECB meeting, where further policy measures are expected. Further reading: Trading ECB: Cheat Sheet & Bottom Line For EUR/USD – SocGen Commodity slump ahead of two rate decisions – Live Market Open from 8:00 GMT FxPro - Forex Broker FxPro - Forex Broker Forex Broker FxPro is an international Forex Broker. FxPro is an award-winning online broker, offering CFDs on forex, futures, indices, shares, spot metals and energies, serving clients in more than 150 countries worldwide. FxPro offers execution with no-dealing-desk intervention and maintains a client-centric business model that puts customer needs at the forefront of our operations. Our acquisition of leading spot FX aggregator, Quotix, enables us to offer access to a deep pool of liquidity, as well as top-class order-matching and some of the most competitive spreads in the market. FxPro is one of only few brokers offering Negative Balance Protection, ensuring that clients cannot lose more than their overall investment. FxPro UK Limited is authorised and regulated by the Financial Conduct Authority (registration number: 509956). FxPro Financial Services Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (licence number: 078/07) and by the South Africa Financial Services Board (authorisation number 45052). Risk Warning: Trading CFDs involves significant risk of loss. View All Post By FxPro - Forex Broker Daily Look share Read Next Elliott Wave Analysis on USDCAD and German DAX Anat Dror 7 years There are a couple of central bank decision to watch today, primarily Canada at 15:00 GMT. The Canadian economy has gone through a rough ride recently, with recent indicators suggesting some stabilisation, but concerns remain and the market is pricing the risk (around one-third) that rates are cut this year. The recent reversal of the currency is also a factor likely to be discussed at the meeting today, given the Canadian dollar is nearly 10% higher vs. the US dollar from the USDCAD highs seen in January. This makes it the strongest major over this period, but the recovery is… 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.
