The Canadian dollar weakened sharply yesterday as it was hit by double whammy from lower oil prices and further BoC monetary easing. It helped to lift USD/CAD back above the 1.4100-level, economists at MUFG Bank brief. Key quotes “Governor Poloz attempted to draw a line between their asset purchases and so-called quantitative easing. Overall, it would suggest that the BoC is not seriously considering increasing the pace of federal government bond purchases. Nevertheless, the scale of the negative economic shock will keep the BoC under pressure to deliver further support measures.” “The BoC did reveal that their analysis of alternative scenarios sees activity down 1-3% in Q1 and 15-30% lower in Q2 compared to the end of last year. In these circumstances, we maintain our bearish outlook for the Canadian dollar in the near-term.” “USD/CAD is likely to rise back towards the 1.4500-level.” 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: Downtrend may be resuming – Credit Suisse FX Street 2 years The Canadian dollar weakened sharply yesterday as it was hit by double whammy from lower oil prices and further BoC monetary easing. It helped to lift USD/CAD back above the 1.4100-level, economists at MUFG Bank brief. Key quotes “Governor Poloz attempted to draw a line between their asset purchases and so-called quantitative easing. Overall, it would suggest that the BoC is not seriously considering increasing the pace of federal government bond purchases. Nevertheless, the scale of the negative economic shock will keep the BoC under pressure to deliver further support measures.” “The BoC did reveal that their analysis of alternative… 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.
