Canadian dollar rallies as Oil recovers

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Oct 21, 2015.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    The Canadian Dollar posted a strong straight week of gains as the USDCAD fell-1.56% for the week and in total -2.95% off a near 11-year high at 1.3333. For the most part, the gains in the Loonie were largely on account of scaled back expectations from the US Federal Reserve which failed to hike rates in September this year. The dovish tone from the FOMC's meeting minutes reflected the divided views and cast doubts on whether consumer inflation in the US would be able to reach the Fed's 2%

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