Bank of Canada raised interest rates

• The decision on the interest rate of the Bank of Canada, fact  1.50%, forecast  1.50%.

In addition to the expected increase in rates in Canada, the Canadian dollar was supported by the very optimistic tone of the Bank of Canada’s report, which noted Canadian GDP growth forecasts, wages will continue to grow, and the real estate market will begin to stabilize.

Fig. 1. Chart of Increasing rates by the Bank of Canada

 

The pair USD / CAD fell on the data on the increasing rates in Canada, thereby returning to the lower border of the rising channel, which can be traced from April this year. The main support is located at the levels: 1.3070 and 1.3050, resistance: 1.3130 and 1.3150.

Fig. 2. USD / CAD Chart. Current price – 1.3080

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Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

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