-
Canadian Dollar Price Forecast: USD/CAD remains rangebound after BoC rate decision
The Canadian Dollar (USD/CAD) currently remains steady against major currency pairs after the bank of Canada rate decision came in line with expectations, holding rates steady at 0.25%. With commodity prices on the rise, the Canadian dollar has managed to regain confidence against the greenback, finding support at the 1.23 mark. However, in anticipation of the FOMC meeting minutes expected to take place next week, USD/CAD may continue to trade within a well-defined range, at least for now. USD/CAD Technical Analysis: After a strong downtrend from the September high, USD/CAD prices have recently rebounded off of the ... (full story)