Cad forex news

Here are some recent CAD (Canadian Dollar) related Forex news and updates:

Recent CAD News

  1. Bank of Canada keeps interest rates unchanged: The Bank of Canada left its benchmark interest rate unchanged at 1.75% on March 4, 2023, citing a strong economy and low inflation.
  2. Canada's GDP growth slows down: Canada's gross domestic product (GDP) grew at a slower pace of 0.1% in January, down from 0.3% in December, according to Statistics Canada.
  3. Canadian housing market shows signs of slowing down: The Canadian Real Estate Association (CREA) reported a 2.5% decline in home sales in February, citing higher interest rates and stricter mortgage rules.
  4. Canada's trade deficit widens: Canada's trade deficit widened to CAD 1.2 billion in January, up from CAD 0.4 billion in December, due to a decline in exports and an increase in imports.
  5. Oil prices impact CAD: The Canadian dollar has been affected by fluctuations in oil prices, with a decline in oil prices leading to a weaker CAD.

Forex Market Analysis

  1. CAD/USD technical analysis: The CAD/USD pair has been trading in a range-bound pattern, with support at 1.3200 and resistance at 1.3500.
  2. CAD/EUR technical analysis: The CAD/EUR pair has been trending lower, with support at 0.6700 and resistance at 0.6900.
  3. CAD/JPY technical analysis: The CAD/JPY pair has been trading in a range-bound pattern, with support at 85.00 and resistance at 88.00.

Economic Indicators

  1. Inflation rate: Canada's inflation rate is expected to remain low, with the Bank of Canada targeting an inflation rate of 2%.
  2. Unemployment rate: Canada's unemployment rate is expected to remain around 5.5%.
  3. GDP growth: Canada's GDP growth is expected to slow down in the coming quarters, due to a decline in exports and a slowdown in the global economy.

Market Sentiment

  1. Risk appetite: The CAD has been affected by changes in risk appetite, with a decline in risk appetite leading to a weaker CAD.
  2. Central bank decisions: The Bank of Canada's interest rate decisions have a significant impact on the CAD, with a rate hike leading to a stronger CAD.
  3. Global economic trends: The CAD is also affected by global economic trends, with a slowdown in the global economy leading to a weaker CAD.

I hope this information is helpful!