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April, 24 - USD/CAD traders are awaiting monetary rate decision

Key focus of traders is still on Canada as Central Bank there just sat down to decide the fate of monetary policies for the nearest future. It is expected than monetary rate in the country will stay at the same 1.75% level. This in its turn is not going to provide any additional support for the economy that is largely based on prices for oil. And oil is not doing very well at the moment. And there we have it – no additional support from the BoC, falling and unstable prices for oil and powerful greenback – all of these are going to keep on pushing USD/CAD chart higher.

 

usdcad 24.04.2019

 

All day traders are focused on watching CAD going weaker and weaker. Although the price was trying to find strong point, there is nothing that can be done while the decision on the monetary policies is not announced.

 

What is the forecast for USD/CAD? Use your trading signals to know the answer!

 

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