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Market Update

EncoreFX’s daily market updates are written by our experienced and professional dealing team.

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