Overnight Rate News Today

The gold price climbed as high as $2,365 in the last trading session, marking a fresh all-time high with all focus on the US CPI and FOMC.

OTTAWA (Reuters) -Canada's gross domestic product strongly rebounded in January exceeding expectations and February's preliminary estimates point to another expansion, data showed on Thursday, tempering pressure on the Bank of Canada (BoC) for an early rate cut. The economy grew by 0.6% in January, its fastest growth rate in a year, which the Statistics Canada called a broad-based expansion led by a bounce back in education services benefiting from an end of public sector strikes in Q...

OTTAWA (Reuters) -The Canadian economy expanded at an annualized rate of 1.0% in the fourth quarter, exceeding expectations, data showed on Thursday, a result that should ease interest rate-cutting pressure on the central bank. Fourth-quarter gross domestic product (GDP) was higher than the Bank of Canada's (BoC's) expectation for zero growth and analysts' median forecast for an expansion of 0.8% growth. January GDP likely gained 0.4% from December, Statistics Canada said in a f...

USD/CAD Analysis Today: USD/CAD Lower as Traders Await BoC - Traders eye Bank of Canadas Monetary Policy Report and US GDP data. Support levels in focus.

The gold price is trading in the green at $2,033 at the time of writing. The metal seems determined to hit new highs as USD lost momentum.

(Bloomberg) -- The Bank of Canada held its policy rate steady for a fourth consecutive meeting and explicitly stated for the first time that it won’t need to increase it again if the economy evolves in line with its forecasts.Most Read from BloombergRussia Says Ukraine Downed Plane Carrying Prisoners for SwapApple Dials Back Car’s Self-Driving Features and Delays Launch to 2028Trump Races Toward 2024 Biden Rematch After New Hampshire WinChina Boosts Stimulus by Allowing Banks to Ke...

Today's EUR/USD price climbed to mark a new high near 1.0915. The pair dropped slightly and is at 1.0870 as the USD again gained traction.

Price was trading within a descending channel and appears to be attempting to complete a rising wedge formation. If price breaks, there is a

The Canadian Dollar opened 2024 with a decline against the US Dollar, the Forex pair USD/CAD rose from 1.3180 in late December 2023 to its current average price of 1.3380 and has been trading near this level for a few days. The pair held steady throughout the US CPI data release as well as the recent upside move in oil prices.

- Risk appetite was on following the great monetary pivot, further dovish international central bank commentary in session.