The pair tumbles to sub-1.2900 levels on steady BoC. CAD appreciates to 3-day tops vs. the greenback, around 1.2880. The Bank of Canada left the refi rate unchanged at 1.25%, matching estimates. The Canadian Dollar gained extra traction on Wednesday vs. its American neighbour, dragging USD/CAD to fresh lows in the 1.2890/80 band. USD/CAD weaker on BoC The pair accelerated the downside today after the Bank of Canada kept its key rate at 1.25%, in line with prior surveys. In addition, the central bank said the activity appears to have been stronger than estimated during the first quarter. The BoC now seem to have dropped the previous cautious stance, hinting at the likeliness of a probable rate hike over the summer. USD/CAD significant levels As of writing the index is losing 0.95% at 1.2892 and a breakdown of 1.2866 (21-day sma) would open the door to 1.2833 (55-day sma) and then 1.2727 (low May 11). On the upside, the next hurdle emerges at 1.3049 (high May 29) seconded by 1.3126 (2018 high Mar.19) and then 1.3132 (61.8% Fibo of the 2017 drop). 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 USD/JPY bulls now eyeing a move beyond 109.00 handle FX Street 5 years The pair tumbles to sub-1.2900 levels on steady BoC. CAD appreciates to 3-day tops vs. the greenback, around 1.2880. The Bank of Canada left the refi rate unchanged at 1.25%, matching estimates. The Canadian Dollar gained extra traction on Wednesday vs. its American neighbour, dragging USD/CAD to fresh lows in the 1.2890/80 band. USD/CAD weaker on BoC The pair accelerated the downside today after the Bank of Canada kept its key rate at 1.25%, in line with prior surveys. In addition, the central bank said the activity appears to have been stronger than estimated during the first quarter. The BoC… 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.
