Traders were expecting the Bank of Canada to raise interest rates by 25 basis points again before July but Thursday’s data has probably dented this expectation, with implications for the Loonie.
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More upside is expected from GBP/CAD as a persuasive chart pattern looks to be forming which heralds more upside for the pair.
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Oil prices and the Canadian Dollar both rose following the release of data showing lower US stockpiles mid-week.
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The Canadian Dollar and oil used to go together like the proverbial 'horse and carriage' until the link broke - now it has returned argues Barclays.
Read more … →GBP/CAD is at risk of breaking out of its range and continuing higher in the week ahead.
Read more … →Canadian housing data update: a rise in building permits has helped support the Canadian Dollar.
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December trade data adds to a downbeat outlook for the Canadian currency, which comes as global markets are still reeling from a sudden spike in volatility during the overnight and London session T…
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