- November 20, 2019
- Posted by: John Curran
- Category: Market News
Good morning,
Yesterday’s announcement by the Bank of Canada’s Deputy Governor, Carolyn Wilkins moved the market at 1PM. Wilkins sighted that the BoC “still has room to maneuver with interest rates at 1.75%” the comments dampened the CAD against USD by 40 bps after the announcement at 12:30 PM ET with the CAD continuing to lose ground into overnight trading. Today we await minutes from last month’s Federal Open Market Committee meeting for further insight into last month’s FED decision to cut rates for the third time in a row. Tomorrow’s Canada data will include a speech BoC Governor Poloz at 8:40 AM and on Friday the market will look out for Canada’s retail sales figures. USD/CAD resistance eyeing the 1.3346 October double top with November support level at 1.3217.