The Canadian remains under pressure

The Canadian dollar is still trading near the low of today’s trading against the US dollar, despite more positive data on business activity in Canada, rather than expected. According to published data, in November the indicator was 63.0, while analysts expected the value at 62.7, but still below the previous value at 63.8.

Additional pressure on the Canadian still is provided by the result of the December meeting of the Bank of Canada, during which the main interest rate was maintained at 1.00%, and the CBR management was rather lenient in its comments on further tightening of monetary policy. For more information, see “The Canadian is stabilizing“.

Alexander Sivtsov