As expected, the Bank of Canada left the Overnight Rate unchanged. This decision, that contained concerns about the strength of the Canadian dollar, was widely expected by the markets. USD/CAD is trading slightly higher, under the resistance line. The rate statement that was released with the rate decision, talks about inflationary pressures from commodity prices, in a still weak global, but recovering global situation. Towards the end of the statement, this paragraph about the Canadian dollar shows concern: The persistent strength of the Canadian dollar could create even greater headwinds for the Canadian economy, putting additional downward pressure on inflation through weaker-than-expected net exports and larger declines in import prices. No intervention is expected by Mark Carney and his colleagues, but these concerns and the direct mention of the currency, weighs on the loonie. Earlier today, Canada’s trade balance was flat. A surplus of 600 million was expected. Last moth’s surplus was revised to the upside, to 400 million. Prices of new homes rose by 0.4%, slightly stronger than 0.3% that was expected. USD/CAD bottomed out in recent days, after oil prices lost some ground. Talks about a ceasefire in Libya marked a peak for crude oil, and Canada, which exports the black gold, saw its currency drop. Last week, when oil prices where on the rise, the Canadian dollar preferred to see positive side of the mediocre employment figures, and it continued gaining. USD/CAD is currently around 0.96. Levels above are 0.97, 0.98 and 0.9930. Levels below are 0.9510 and 0.94. 0.9520 was the bottom reached last week. For more levels, technical analysis and more events, see the Canadian dollar forecast. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next AUD/USD Apr.13-Aussie Down Again Against US Dollar On Japanese Tamar Schoppik 12 years As expected, the Bank of Canada left the Overnight Rate unchanged. This decision, that contained concerns about the strength of the Canadian dollar, was widely expected by the markets. USD/CAD is trading slightly higher, under the resistance line. The rate statement that was released with the rate decision, talks about inflationary pressures from commodity prices, in a still weak global, but recovering global situation. Towards the end of the statement, this paragraph about the Canadian dollar shows concern: The persistent strength of the Canadian dollar could create even greater headwinds for the Canadian economy, putting additional downward pressure on inflation… 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.