Loonie falls on rate cut bets

2019-09-12 16:21:09 GMT (Economies.com)
Loonie falls on rate cut bets

Canadian dollar fell vs. greenback today, as the market's bets of a rate cut increased, after the ECB decision and an expected cut by the US Fed.

 

The ECB decided on a rate cut to -0.5% launched a bond-buying program worth 20 billion euros per month (about $22 billion) in its efforts to stimulate the European economy growth.

 

While the US Federal Reserve is expected to issue its interest rate decision next week with forecasts of a second cut this year.

 

US President Trump demanded from the bank to cut interest rates to zero or negative levels, ahead of the bank's decision next week.

 

Otherwise, the market's hopes increased after mutual positive moves between the US and China ahead of the next round of the trade talks in the first of October.

 

As of 15:54 GMT, CAD/USD fell by 0.1% to $0.7571, with a high of $0.7594 and a low of $0.7561.

 
 
 
  Symbol Last Change Chg.%
1.1020
0.0000
0.0045%
1.2472
0.0003
0.0236%
17.964
0.513
2.940%
58.477
3.583
6.527%
64.28
-0.12
0.19%
1516.410
27.430
1.842%
 
 
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