Extreme Volatility Alert: USD/CAD & EUR/CAD.
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Bank of Canada Surprised the Markets by Raising Interest Rates.
The Bank of Canada has taken the markets by surprise with their announcement to increase interest rates by 0.25% and set it at 1.00%.
Canada’s economy displayed a strong performance in the first two quarters of 2017, indicating that the country has managed sustainable growth.
Upon the news, the Canadian Dollar gained about 300 pips against the USD and 350 pips against the Euro in just 1 minute.
How strong can the Canadian Dollar get?