Canada ready to go neutral after December rate hike
EUR/USD 🔼
GBP/USD 🔼
AUD/USD 🔼
USD/CAD 🔼
USD/JPY 🔽
XAU 🔼
WTI 🔽
In yesterday’s interest rate decision, the Bank of Canada increased rates by 50 basis points to 4.25%, meeting Mitrade's forecast. The central bank has extended the quantitative tightening cycle while acknowledging and will continue to assess the risks. USD/CAD closed at 1.3651 and is trading slightly higher at 1.3680.
The greenback has weakened against other major currencies. EUR/USD climbed to 1.0508, GBP/USD added over 70 pips to 1.2199, and AUD/USD rose to 0.6724. Despite a 0.2% decrease in Japanese GDP, USD/JPY dropped more than 40 pips to 136.6.
As of market close, the Dow Jones Industrial Average was flat at 33,597, the S&P 500 was down 7 points (-0.19%) to 3,933, and the Nasdaq 100 was down 52 points (-0.45%) to 11,497.
US crude oil inventories fell by over 5.2 million barrels against a forecast of -3.3 million barrels, but WTI oil futures slipped to $72.01 per barrel regardless. Spot gold surged $14 to $1,786.19 an ounce, and Bitcoin was last traded lower at 16,842.0.
GBP/USD 🔼
AUD/USD 🔼
USD/CAD 🔼
USD/JPY 🔽
XAU 🔼
WTI 🔽
In yesterday’s interest rate decision, the Bank of Canada increased rates by 50 basis points to 4.25%, meeting Mitrade's forecast. The central bank has extended the quantitative tightening cycle while acknowledging and will continue to assess the risks. USD/CAD closed at 1.3651 and is trading slightly higher at 1.3680.
The greenback has weakened against other major currencies. EUR/USD climbed to 1.0508, GBP/USD added over 70 pips to 1.2199, and AUD/USD rose to 0.6724. Despite a 0.2% decrease in Japanese GDP, USD/JPY dropped more than 40 pips to 136.6.
As of market close, the Dow Jones Industrial Average was flat at 33,597, the S&P 500 was down 7 points (-0.19%) to 3,933, and the Nasdaq 100 was down 52 points (-0.45%) to 11,497.
US crude oil inventories fell by over 5.2 million barrels against a forecast of -3.3 million barrels, but WTI oil futures slipped to $72.01 per barrel regardless. Spot gold surged $14 to $1,786.19 an ounce, and Bitcoin was last traded lower at 16,842.0.