{"id":71694,"date":"2022-09-07T20:12:44","date_gmt":"2022-09-07T16:12:44","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=71694"},"modified":"2022-09-07T20:24:24","modified_gmt":"2022-09-07T16:24:24","slug":"how-is-usd-cad-affected-by-boc-rate-decision","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/how-is-usd-cad-affected-by-boc-rate-decision\/09\/07\/market-updates\/","title":{"rendered":"How Is USD\/CAD Affected By BoC Rate Decision?"},"content":{"rendered":"\n<p>The USD\/CAD is soaring despite Wednesday\u2019s 75 bps rate hike by the Bank of Canada, from 2.50% to 3.25%, amid mixed market sentiment, with most global equities tumbling, except for US stocks.<br><br>At the time of writing, the USD\/CAD edges up 0.18%, trading at 1.3174, above its opening price at 1.31510.<br><br>The Canadian dollar failed to gain traction after the BoC decided to hike rates. The central bank noted that they would need to rise further, given the inflation figures. <br><br>According to the BoC, core inflation continues broadening, particularly in services, reiterating its commitment to price stability and adding that it would take action as required to achieve the 2% goal.<br><br>The USD\/CAD seesawed on the news headlines, edging towards 1.3163 and then surging to 1.3201 before stabilizing at current exchange rates.<br><br>In the meantime, the Canadian economic docket also revealed the Ivey Purchasing Managers Index for August, which came at 60.9, seasonally adjusted, whine unadjusted rose by 57.1.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The USD\/CAD is soaring despite Wednesday\u2019s 75 bps rate hike by the Bank of Canada, from 2.50% to 3.25%, amid mixed market sentiment, with most global equities tumbling, except for US stocks.At the time of writing, the USD\/CAD edges up 0.18%, trading at 1.3174, above its opening price at 1.31510.The Canadian dollar failed to gain &hellip;<\/p>\n","protected":false},"author":13,"featured_media":42727,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[6932,8143,7015],"class_list":["post-71694","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-boc","tag-interest-rate-hikes","tag-usd-cad"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/71694","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=71694"}],"version-history":[{"count":4,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/71694\/revisions"}],"predecessor-version":[{"id":71702,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/71694\/revisions\/71702"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/42727"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=71694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=71694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=71694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}