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USD/CAD Loonie Gains After BoC Holds Rates

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 2, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The Bank of Canada was in the spotlight today when it announced it would maintain its rate at 0.50 percent. The rest of the statement was dovish as Canada is left facing a “complex and lengthy” transition due to the lower price of commodities. The BoC was one of the most proactive central banks this year cutting the benchmark rate twice in an effort to devalue the loonie and give exporters a chance to offset the losses in the energy sector. The Federal Reserve is widely expected to finally

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