Important Economic Event: Canadas #BoC Interest Rate Decision & Rate Statement - 15:00 BST, 22 October 2014 A big day for Canada as their central bank meeting is set to decide on the interest rates, followed by a speech from #BoCs Governor Stephen #Poloz later in the evening (20:30 BST). Ahead of the interest rate decision, the #USD/#CAD is trading higher this Wednesday morning. So far, we find Poloz maintaining a very neutral policy stance in regards to the countrys interest rate. Though Canadas recent inflation numbers have been a little higher than they would like it to be, it is still found within a desired range. Their #GDP data has not been too encouraging either - however, their Ivey 3PMI has shown some strength instead. With this, and consideration of a possible global economic slowdown, it is expected that the BoC will maintain their current interest rate at 1.0% for a while longer. A countrys interest rate decision is known to be one of the key drivers of price action and may cause the relative currency some volatility should the decision made be one that is unexpected. Key assets to watch: USD/CAD, CL-NOV14 Start #trading with cwmfx/
Posted on: Wed, 22 Oct 2014 13:11:16 +0000
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