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USD/CAD Loonie Rises After Bank of Canada and Higher Oil Prices

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 10, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The Canadian dollar advanced versus the USD after the Bank of Canada announced the benchmark interest rate would remain unchanged at 0.50 percent. The USD/CAD traded below 1.33 as the loonie also got a boost of oil prices that rose despite higher crude inventories in the U.S. The Bank of Canada (BoC) was largely expected to hold rates unchanged as the central bank has shifted some of the burden of guiding the economy to the Liberal government elected last year. As part of the campaign promises

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