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Poloz Comments Leave CAD Static

Yesterday’s high: C$1.6818

Yesterday’s low: C$1.6731

Canadian Dollar Mixed Despite Strong Oil Price News

Prices of oil, Canada’s most lucrative commodity, have gone from strength to strength in recent weeks, but the benefit to the Canadian Dollar has been minimal.

Yesterday the Canadian Dollar was feeling the pressure ahead of a speech from Bank of Canada (BOC) Governor Stephen Poloz. The central bank chief’s fairly neutral remarks lent the Canadian Dollar little support.

CAD Outlook: Brexit News Could Boost Pound Higher

GBP CAD investors are highly focused on the Brexit process again this week amid a lack of particularly influential data from Britain or Canada.

Any signs of developments in UK-EU Brexit talks, or rumours of setbacks, could inspire Sterling volatility.

Canada’s upcoming housing data is unlikely to cause much CAD movement.

Key Events

8th November

13:15 Canadian Housing Starts

9th November

13:30 Canadian New Housing Price Index

10th November

09:30 UK Balance of Trade

09:30 UK Manufacturing and Industrial Production

09;30 UK Construction Output

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To keep up to date with the Canadian Dollar, visit the CAD blog in our Currency News section.

Richard Beaumont

Currency Broker
T: +44(0)1442 892 060

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