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USD/CAD2016-05-25 18:13 UTC

The Loonie has rallied on the BoC announcement, driving USD-CAD over 60 pips lower to the mid 1.30s. The decision to hold the overnight target at 0.5% was widely expected, and while its Q2 growth forecast was trimmed by 1.25 of a percentage point as a consequence of the Alberta wildfires, the BoC expects growth to rebound in Q3 as oil production resumes and reconstruction begins. The statement also said that "risks to the Bank's inflation ... Read More 

XE Market Analysis

  • North American Edition2016-05-25 10:43 UTC

    The dollar traded mixed, gaining versus the yen, holding steady versus the euro, and losing ground to the Australian and New Zealand dollars. USD-JPY and EUR-JPY logged two-day highs, at 110.28 and 122.91 respectively. The Yomiuri reported that PM Abe will soon announce a delay in the planned sales tax rise, which is set for April next year. A risk-on mix of higher oil prices and rallying stock markets was also a driver of yen losses today, in accordance ... Read More 

  • European Edition2016-05-25 07:13 UTC

    The dollar traded mixed in pre-London trade in Asia, gaining versus the yen and sterling, holding steady versus the euro, and losing ground to the Australian and New Zealand dollars. USD-JPY and EUR-JPY logged two-day highs, at 110.19 and 122.80 respectively. The Yomiuri reported today that PM Abe will soon announce a delay in the planned sales tax rise, which is set for April next year, while there was a strong economist consensus in a Reuters survey ... Read More 

  • Asian Edition2016-05-25 18:13 UTC

    The dollar faded modestly through the N.Y. session, taking a pause from gains seen since the release of the FOMC minutes a week ago. EUR-USD touched two-plus month lows of 1.1129 before recovering to 1.1168 highs, as USD-JPY topped at 110.46 ahead of easing to 110.07 lows. Cable traded over 1.4700, and generally found support on dips under the figure. USD-CAD meanwhile, traded into 1.3050 following an encouraging BoC policy statement, and $49 handle WTI ... Read More 

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