{"id":24373,"date":"2023-01-25T09:20:21","date_gmt":"2023-01-25T09:20:21","guid":{"rendered":"https:\/\/fxglobe.wpenginepowered.com\/bank-of-canada-rates-decision\/"},"modified":"2023-07-11T20:19:43","modified_gmt":"2023-07-11T20:19:43","slug":"bank-of-canada-rates-decision","status":"publish","type":"post","link":"https:\/\/www.fxglobe.com\/vi\/bank-of-canada-rates-decision\/","title":{"rendered":"Bank Of Canada Rates Decision"},"content":{"rendered":"\n<p>Good morning Traders!<\/p>\n\n\n\n<p>Today we have the <a href=\"https:\/\/www.theglobeandmail.com\/topics\/bank-of-canada\/\">Bank of Canada<\/a> interest rates decision, and the market is expecting a<br>slower rate of increase, and a smaller interest rates hike of 0.25% which will take the<br>official rate to 4.5%<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">EUR\/CAD<\/h2>\n\n\n\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" data-id=\"8403\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/EURCAD-D-scaled.jpg\" alt=\"\" class=\"wp-image-8403\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" data-id=\"8410\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/EURCAD-M-scaled.jpg\" alt=\"\" class=\"wp-image-8410\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" data-id=\"8400\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/EURCAD-W-scaled.jpg\" alt=\"\" class=\"wp-image-8400\"\/><\/figure>\n<\/figure>\n\n\n\n<p>If the rate decision and the follow up press conference will be viewed by the market as<br>bearish for the Canadian Dollar, I\u2019ll be looking at the <a href=\"https:\/\/www.fxglobe.com\/eurcad-on-the-move\/\" data-type=\"post\" data-id=\"28668\">EURCAD<\/a> chart and the level, which<br>so far, have been proven strong resistance around the area of the 1.4650<\/p>\n\n\n\n<p>The Daily chart is back in an uptrend and on the weekly chart the market has ever so<br>slightly broken the previous swing High to print a Weekly Higher High. The Monthly chart<br>is still in a downtrend, however if the market will break above this level, it will also void the<br>downtrend on the Monthly chart, giving further weight to the importance of this level.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">USD\/CAD<\/h3>\n\n\n\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-2 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" data-id=\"8430\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/USDCAD-D-1-scaled.jpg\" alt=\"\" class=\"wp-image-8430\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" data-id=\"8435\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/USDCAD-M-1-scaled.jpg\" alt=\"\" class=\"wp-image-8435\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" data-id=\"8439\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/USDCAD-W-1-scaled.jpg\" alt=\"\" class=\"wp-image-8439\"\/><\/figure>\n<\/figure>\n\n\n\n<p>However, if the rate decision and the follow up press conference will be viewed by the<br>market as bullish for the <a href=\"https:\/\/www.fxglobe.com\/the-almighty-dollar-still-the-biggest-kid-on-the-playground\/\" data-type=\"post\" data-id=\"24486\">Canadian Dollar<\/a>, I\u2019ll be looking at the USDCAD chart and the<br>level of support around the area of the 1.3220<\/p>\n\n\n\n<p>While the price action here is not as smooth as in the chart of EURCAD, the big picture on<br>the Daily chart is a downtrend, and the Weekly chart has broken the uptrend by printing a<br>Lower High. A break lower below this level, would also confirm a downtrend on the<br>Weekly chart.<\/p>\n\n\n\n<p>Happy Trading!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning Traders! Today we have the Bank of Canada interest rates decision, and the market is expecting aslower rate of increase, and a smaller interest rates hike of 0.25% which will take theofficial rate to 4.5% EUR\/CAD If the rate decision and the follow up press conference will be viewed by the market asbearish [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_robots_primary_cat":"none","_seopress_titles_title":"Bank of Canada Rates Decision | %%sitetitle%%","_seopress_titles_desc":"Stay updated with the latest Bank of Canada rates decision and its impact on the financial markets. Make informed trading decisions based on the outcome.","_seopress_robots_index":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[],"class_list":["post-24373","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.fxglobe.com\/vi\/wp-json\/wp\/v2\/posts\/24373","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fxglobe.com\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fxglobe.com\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/vi\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/vi\/wp-json\/wp\/v2\/comments?post=24373"}],"version-history":[{"count":0,"href":"https:\/\/www.fxglobe.com\/vi\/wp-json\/wp\/v2\/posts\/24373\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.fxglobe.com\/vi\/wp-json\/wp\/v2\/media?parent=24373"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fxglobe.com\/vi\/wp-json\/wp\/v2\/categories?post=24373"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fxglobe.com\/vi\/wp-json\/wp\/v2\/tags?post=24373"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}