The Canadian dollar started the week with solid gains and is now the strongest currency of the G10 countries. On Wednesday, June 1, the BoC will decide on a rate hike in Canada. Analysts' consensus assumes that bankers will raise the base rate by 50 bps, to 1.5%. Today we learned the Current Account Balance data, which significantly beat analysts' expectations and came in at 5.03 bn CAD vs. forecasts of CAD 3.2 bn CAD and an earlier reading of -0.14 bn CAD.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appThe Canadian dollar is the strongest currency of the G10 countries today. Source: babypips
The USD/CAD pair loses over 0.5% today and goes below the 61.8% Fibo retracement of the upward wave initiated at the beginning of April this year. Source: xStation 5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
