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Oil continues to move higher, Canadian dollar still weaker

By MoneyWay | Apr 2, 2019

Not even Bank of Canada Governor Poloz’s comments helped the Canadian dollar, he said policy makers will need to keep interest rates easier for now to help the economy adjust to lower oil prices and trade uncertainty. The governor expressed confidence the country will emerge from its current soft patch, though he was noncommittal on whether that would prompt him to return to a hiking cycle. He is walking a fine line and as such he really cannot give any direction until the Canadian economy shows signs of growth.

Currently             Close                     Range

USDCAD               1.3357                   1.3307                   1.3305-1.3374

EURCAD               1.4943                   1.4921                   1.4907-1.4961

GBPCAD               1.7405                   1.7435                   1.7328-1.7438

                                                                                                Prior                      Actual

US: Durable Goods Orders February                        0.1%                      -1.6%

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