CAD Softens on Falling Oil Prices; Markets Await Tomorrow’s BoC Rate Decision

Published July 11, 2017

Markets are eagerly awaiting tomorrow’s Bank of Canada rate decision
Though the market has almost fully priced in an increase, there is still debate as to whether this will in fact be the case
The Bank of Canada’s rate statement will be also scrutinized for wording around future rate hikes
Oil prices pulled back today ahead of US stockpile data
USD is stronger this morning prior to tomorrow’s testimony by Yellen before the Senate Banking Committee

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