2020-04-15 15:31
Market analysisUSD/CAD Outlook (15 April 2020)
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Market analysis：
Overall, USD/CAD is trending downwards. Recently, USD/CAD has been ranging across around the key level of 1.39.
The Bank of Canada (BoC) will be announcing their interest rate decision later at 2100 (SGT).
It is expected that the BoC will be holding interest rate unchanged at 0.25% as interest rate level is at its effective lower bound. Nonetheless, the BoC may still be implementing more easing measures if the Canadian economy further deteriorates due to the Covid-19 pandemic.
The BoC will also be holding a press conference at 2130 (SGT). During this time, volatility is expected of CAD.
USD/CAD’s next support level is at 1.38000 and the next resistance level is at 1.39800.
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USD/CAD Outlook (15 April 2020)
Singapore | 2020-04-15 15:31Overall, USD/CAD is trending downwards. Recently, USD/CAD has been ranging across around the key level of 1.39.
The Bank of Canada (BoC) will be announcing their interest rate decision later at 2100 (SGT).
It is expected that the BoC will be holding interest rate unchanged at 0.25% as interest rate level is at its effective lower bound. Nonetheless, the BoC may still be implementing more easing measures if the Canadian economy further deteriorates due to the Covid-19 pandemic.
The BoC will also be holding a press conference at 2130 (SGT). During this time, volatility is expected of CAD.
USD/CAD’s next support level is at 1.38000 and the next resistance level is at 1.39800.
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