The Bank of Canada (BoC) rate decision will be in focus, expected to be announced at 14:00 GMT. USD/CAD trades 1% higher at 1.4020, per TD Securities. Key quotes “We see a small risk of a surprise from the BoC, but it is not our baseline scenario.” “BoC will be the first major Central Bank to quantify the pandemic shock. This could hit broader sentiment, particularly if US data & earnings reports continue to weigh.” “USD/CAD has traded up to test trendline resistance around 1.4025. We think the balance of risks favors further upside and think spot could trade up to test the waters above 1.4260 without too much difficulty if market confidence deteriorates further.” 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 Price Analysis: Attempted recovery might still be seen as a selling opportunity FX Street 2 years The Bank of Canada (BoC) rate decision will be in focus, expected to be announced at 14:00 GMT. USD/CAD trades 1% higher at 1.4020, per TD Securities. Key quotes “We see a small risk of a surprise from the BoC, but it is not our baseline scenario.” “BoC will be the first major Central Bank to quantify the pandemic shock. This could hit broader sentiment, particularly if US data & earnings reports continue to weigh.” “USD/CAD has traded up to test trendline resistance around 1.4025. We think the balance of risks favors further upside and think spot could trade up… 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.
