The pair moves lower after BoC hiked rates by 25 bp. Spot quickly broke below the 1.3100 handle following the BoC decision. BoC raised the key rate to 1.50%, matching prior surveys. The Canadian Dollar is sharply appreciating vs. its American neighbor on Wednesday, dragging USD/CAD to fresh lows in sub-1.3100 levels. USD/CAD lower on hawkish BoC Spot quickly dropped to fresh 2-day lows after the Bank of Canada raised the key rate by 25 bp to 1.50%, as largely anticipated by market participants. The BoC sees modest effects of tariffs on economic growth and prices, while it will monitor the response from companies and consumer to trade actions. The central bank also said that higher rates are warranted in order to keep inflation close to the bank’s goal. The BoC should continue the gradual approach amidst a data-dependent stance. USD/CAD significant levels As of writing the pair is losing 0.20% at 1.3088 facing the next support at .3064 (low Jul.9) seconded by 1.3005 (55-day sma) and then 1.2927 (50% Fibo of the 2017 drop). On the other hand, a break above 1.3174 (high Jul.11) would open the door to 1.3193 (21-day sma) and finally 1.3226 (high Jul.3). 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/CAD Technical Analysis: Loonie jumps after Bank of Canada raises policy rate to 1.5% FX Street 3 years The pair moves lower after BoC hiked rates by 25 bp. Spot quickly broke below the 1.3100 handle following the BoC decision. BoC raised the key rate to 1.50%, matching prior surveys. The Canadian Dollar is sharply appreciating vs. its American neighbor on Wednesday, dragging USD/CAD to fresh lows in sub-1.3100 levels. USD/CAD lower on hawkish BoC Spot quickly dropped to fresh 2-day lows after the Bank of Canada raised the key rate by 25 bp to 1.50%, as largely anticipated by market participants. The BoC sees modest effects of tariffs on economic growth and prices, while it will monitor… Top 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.
