Posted 1/23/2024, 8:12:55 PM
Canadian Dollar Treads Water Ahead of Bank of Canada Rate Decision, Buoyed by High Oil Prices but Housing Concerns Persist
- Canadian Dollar moves follow broader market sentiment ahead of Bank of Canada rate decision.
- Crude oil prices staying high, supporting the Loonie.
- Canada housing market remains in a bubble, expected to drag growth.
- USD/CAD stuck between technical levels, consolidating near 1.3450-1.3500.
- Bank of Canada monetary policy statement on Wednesday main event for Canadian Dollar.