ECONOMIC RESTART ****
USD/CAD extends the rebound from the monthly low (1.3855) as the Bank of Canada (BoC) announces new measures to cushion the Canadian economy, and the exchange rate may continue to retrace the decline from the yearly high (1.4667) as it breaks out of the downward trending channel carried over from the previous month.
USD/CAD LEVELS TO WATCH FOLLOWING NEW BOC BOND PURCHASE PROGRAMS
USD/CAD climbs to a fresh weekly high (1.4132) as the BoC unveils a “new Provincial Bond Purchase Program of up to $50 billion, to supplement its Provincial Money Market Purchase Program,” with the central bank also announcing a “Corporate Bond Purchase Program, in which the Bank will acquire up to a total of $10 billion in investment-grade corporate bonds in the secondary market.”
USD/CAD LEVELS TO WATCH FOLLOWING NEW BOC BOND PURCHASE PROGRAMS
USD/CAD climbs to a fresh weekly high (1.4132) as the BoC unveils a “new Provincial Bond Purchase Program of up to $50 billion, to supplement its Provincial Money Market Purchase Program,” with the central bank also announcing a “Corporate Bond Purchase Program, in which the Bank will acquire up to a total of $10 billion in investment-grade corporate bonds in the secondary market.”
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