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BabyPips is a popular online platform that provides educational resources and market analysis for forex traders, including news and updates on various currency pairs, including the Canadian dollar (CAD).
Here are some recent CAD news updates from BabyPips:
CAD News
- Bank of Canada keeps interest rates steady: The Bank of Canada decided to keep its benchmark interest rate unchanged at 1.75% in its latest policy decision. This news had a mixed impact on the CAD, with some analysts expecting a rate cut to boost the economy.
- Canada's GDP growth slows down: Canada's gross domestic product (GDP) growth slowed down to 1.3% in the second quarter, missing market expectations. This news weighed on the CAD, as it suggests a slower pace of economic growth.
- USMCA deal reached: The United States, Mexico, and Canada reached a new trade deal, replacing the North American Free Trade Agreement (NAFTA). The USMCA deal is expected to have a positive impact on the CAD, as it reduces uncertainty and provides a framework for trade between the three countries.
- Canadian housing market cools down: The Canadian housing market has been showing signs of cooling down, with sales and prices declining in recent months. This news has had a mixed impact on the CAD, as it reduces the risk of a housing bubble but also suggests a slower pace of economic growth.
- Oil prices rise: Oil prices have been rising in recent weeks, driven by supply disruptions and strong demand. This news has had a positive impact on the CAD, as Canada is a major oil producer and exporter.
These are just a few examples of recent CAD news updates from BabyPips. If you're interested in staying up-to-date with the latest news and analysis on the Canadian dollar, I recommend checking out BabyPips' website or following their social media channels.