Bank of Canada leaves Interest Rates unchanged?
Canadian Dollar Close to Six-Week Highs in Light of Interest Rate Decision and Rising Oil Prices. Tomorrow at 15:00: Bank of Canada Interest Rate Decision.
The Bank of Canada (BoC) will announce its decisions regarding its key policy interest rate decision on Wednesday, December 7th at 15:00 GMT.
During its previous meeting in October, the BoC left interest rates unchanged at 0.5%.
Traders will be watching this event with keen interest after OPEC’s deal to cut production last week sent the price of oil skyrocketing 14%, and in light of a recent rise in both Europe’s demand for natural gas, and the value of the Canadian dollar highs against its US counterpart (USD/CAD).
The major oil exporting country is expected to gain from these events as oil and natural gas make up a large part of the Canadian economy.
Volatility in CAD currency pairs and Canadian-based CFDs is anticipated to be high all throughout the day. These are the instruments most likely to be effected:
| Financial Instrument (Symbol) | BUY Price* | SELL Price* | Leverage Ratio |
| US Dollar/Canadian Dollar (USD/CAD) | 1.3266 | 1.3261 | 1:200 |
| Euro/Canadian Dollar (EUR/CAD) | 1.4284 | 1.4275 | 1:200 |
| WTI Crude Oil (CL) | 51.48 | 51.44 | 1:100 |
| Natural Gas (NG) | 3.687 | 3.678 | 1:50 |
| PotashCorp (NYSE:POT) | 18.63 | 18.42 | 1:10 |
* CFD ‘Buy’ and ‘Sell’ prices as of Wednesday, December 6th at 11:25 GMT.
In light of recent events, what’s next for Canada’s economy? Don’t miss your chance to capitalise on this top trading opportunity!
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