The Canadian is under pressure. Bank of Canada kept the discount rate at 1.25%

The Canadian dollar weakened against the US dollar, after the decision was made at the April meeting of the Bank of Canada to keep the interest rate unchanged at 1.25%. In its cover letter, the Bank of Canada did not give signals about a possible increase in the interest rate at the next meeting, despite a positive outlook for inflation, against the backdrop of rising energy prices.

Technical analysis: The pair USD/CAD grew by about 80 points, testing the upper limit of the flat range, at the level of 1.2622. If the price is fixed above the 1.2622 level and the oil price decreases, one should expect its further growth to the levels of 1.2675, 1.2730.

Fig. USD/CAD. Current price – $ 1,2602

Alexander Sivtsov