The Canadian Dollar (CAD) bounced on Wednesday, regaining one-fifth of one percent against the Greenback and meagerly recovering from recent lows.
The Canadian Dollar pared losses on Wednesday to rebound 0.2%. The Bank of Canada trimmed interest rates by another 50 bps. Weakening economic figures and labor data sparked another uptick in rate cuts. The Canadian Dollar bounced on Wednesday, regaining one-fifth of one percent against the Greenback and meagerly recovering from recent lows.
USD/CAD daily chart Canadian Dollar FAQs What key factors drive the Canadian Dollar? The key factors driving the Canadian Dollar are the level of interest rates set by the Bank of Canada , the price of Oil, Canada’s largest export, the health of its economy, inflation and the Trade Balance, which is the difference between the value of Canada’s exports versus its imports.
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