The Bank of Canada left the interest rate unchanged at 1% as expected. In the accompanying statement, the BOC warned that while economic conditions haven’t changed materially, risks have risen, due to European debt issues and the strength of the Canadian dollar. USD/CAD rose as a first reaction but dropped afterwards. Here’s a quote from the official statement: However, net exports were weaker than projected and continued to exert a significant drag on growth. This underlines a previously-identified risk that a combination of disappointing productivity performance and persistent strength in the Canadian dollar could dampen the expected recovery of net exports. The pair currently trades at 1.0025. USD/CAD continues to be a great cushion for any fall. Resistance appears at 1.0080. Above this level, a stronger US dollar will meet resistance only at 1.0270. A drop under parity will find resistance for the loonie very soon: 0.9970 and 0.9930. For more technical levels and analysis, see the Canadian dollar forecast. Yesterday, Canadian figures were mixed – building permits disappointed with a 6.5% fall, but the Ivey PMI came out better than expected. USD/CAD remained in range after those figures were released. Want to see what other traders are doing in real accounts? Check out Currensee. It’s free.. 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 Varanasi Bomb Injures 7 Foreigners – Fear of Global Yohay Elam 12 years The Bank of Canada left the interest rate unchanged at 1% as expected. In the accompanying statement, the BOC warned that while economic conditions haven't changed materially, risks have risen, due to European debt issues and the strength of the Canadian dollar. USD/CAD rose as a first reaction but dropped afterwards. Here's a quote from the official statement: However, net exports were weaker than projected and continued to exert a significant drag on growth. This underlines a previously-identified risk that a combination of disappointing productivity performance and persistent strength in the Canadian dollar could dampen the expected recovery of net… 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.
