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USD/CAD edging lower as BOC takes a sanguine view on Loonie

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 9, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    As expected, the first major central bank “decision” of the week was not much of a decision at all. Earlier this morning, the Bank of Canada opted to leave interest rates unchanged at 0.50%, as all 11 primary dealers surveyed by the Wall Street Journal expected. In a bit of an unexpected development though, the central bank refrained from “jawboning” its currency lower. The Loonie has surged higher by more than 1,400 pips against the US dollar over the last two months, and many analysts

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