FX Daily Update: Loonie Loses Against Greenback
The National Bank of Canada | Mar 30, 2015 09:05AM ET
North American Central Bank Statements
Last Friday, U.S. Federal Reserve Chair Janet Yellen reiterated that the Fed's position remains entirely dependent on economic indicators. The Fed will therefore normalize its monetary policy very gradually. In Canada, the head of the Bank of Canada, Stephen Poloz, submitted his annual report to the House of Commons. The report mentioned that the Canadian economy could require an even more accommodative monetary policy. The loonie reacted strongly on this news, losing a hundred basis points against the greenback, bringing it more in line with the range of the last few weeks.
This morning the head of China's central bank announced that several measures were still available to support economic growth, bolstering global stock markets by the same token. Today we are awaiting the release of Industrial Product Price figures in Canada, and Personal Income, Personal Spending and Pending Home Sales data in the U.S. Wishing you a good start to the week!
Xavier Villemaire
Range of the Day: 1.2600 - 1.2720
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