Canada Interest Rate Unchanged & Market mixes as Trump comments on it

January 10, 2017

"US currency is too strong" to compete with China?

Canada Interest Rate Unchanged & Market mixes as Trump comments on it

This article is originally referred from Traders Trust - Daily Afternoon Report

The U.S. dollar trimmed gains against its Canadian counterpart on Wednesday, after the Bank of Canada left interest rates unchanged, although positive U.S. economic reports still lent support to the greenback.

USD/CAD pulled away from 1.3132, the session high, to hit 1.3064 during U.S. morning trade, still up 0.19%.

The pair was likely to find support at 1.3016, Tuesday’s three-month low and resistance at 1.3191, Tuesday’s high.

In a widely expected move, the BoC said it was leaving its overnight cash rate unchanged at 0.50%, a record low where it has been since July 2015.

The central bank also held the bank rate steady at 0.75% and left the deposit rate at 0.25%.

In the U.S., official data earlier showed that industrial production rose 0.8% in December, better than expectations for a 0.6% advance.

However, manufacturing production increased by 0.2% last month, disappointing forecasts for a 0.4% rise.

The report came after the U.S. Commerce Department said consumer prices gained 0.3% in December, in line with expectations and after a 0.2% advance the previous month.

Year-over-year, consumer prices increased 2.1% last month, in line with forecasts and after a 1.7% rise in November.

The greenback had weakened broadly after Donald Trump said to the Wall Street Journal on Monday that U.S. companies could not compete with China “because our currency is too strong. And it’s killing us”.

In separate remarks, a senior adviser to the U.S. President-elect warned about the risk from a stronger dollar.

The loonie was higher against the euro, with EUR/CAD slipping 0.10% to 1.3958.

Original Source: Traders Trust - Daily Afternoon Report

Free 123 USD

5 USD for Free

25 USD for Free

300 USD for Free

100 USD for Free

30 USD for Free


nameDeposit methods
singular_nameDeposit method
all_itemsAll Deposit methods
edit_itemEdit Deposit method
view_itemView Deposit method
update_itemUpdate Deposit method
add_new_itemAdd New Deposit method
new_item_nameNew Deposit method Name
parent_itemParent Deposit method
parent_item_colonParent Deposit method:
search_itemsSearch Deposit methods
popular_itemsPopular Deposit methods
separate_items_with_commasSeparate deposit methods with commas
add_or_remove_itemsAdd or remove deposit methods
choose_from_most_usedChoose from the most used deposit methods
not_foundNo deposit methods found.