Results of the meeting of Bank of Canada

• The decision on the interest rate of the Bank of Canada is 1.25%, the forecast is 1.25%.

The Canadian dollar strengthened across the whole spectrum of the market, which was caused by very positive comments from the CBA of Canada. The increase in optimism was the statement of the Bank of Canada on the strong growth of wages, the increase in economic activity in Canada, and the growth in rates will depend on the targeted increase in inflation.

As a result, despite the retention rates, the Bank of Canada remains open to raise rates in the future, which confirms Canada’s GDP growth and the target inflation rate. The pair USD/CAD completely broke the two-week uptrend and rushed to the support levels: 1.2890 and 1.2850-60, from which the repulsion is possible.

Fig. USD/CAD. Current price – 1.2890

Also, read: “Strategy -” Intraday Bar “

Hanzenko Anton