{"id":107131,"date":"2020-12-09T18:21:50","date_gmt":"2020-12-09T18:21:50","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=107131"},"modified":"2020-12-09T18:21:50","modified_gmt":"2020-12-09T18:21:50","slug":"105006-steady-as-you-go-boc-could-lift-cad","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/105006-steady-as-you-go-boc-could-lift-cad\/","title":{"rendered":"Steady As You Go BoC Could Lift CAD"},"content":{"rendered":"<p><strong>Progress in US stimulus talks boosted risk sentiment.<\/strong><br \/>\n<strong>Bank of Canada\u2019s wait-and-see stance could lift the CAD.<\/strong><br \/>\n<strong>USD\/CAD set to \u00a0extend losses as RSI dips into oversold territory.<\/strong><br \/>\n<strong>CAD\/JPY eyes move higher as price flirts with key resistance.<\/strong><\/p>\n<p>Equity markets advanced in the Asian session amid progress in US fiscal stimulus negotiations.<\/p>\n<p>Australia\u2019s ASX 200 advanced 0.61% after \u00a0Westpac Consumer Confidence index rose \u00a0to its highest level in a decade. Japan\u2019s Nikkei 225 surged 1.33%.<\/p>\n<p>Attention will turn to the Bank of Canada\u2019s interest rate decision.<\/p>\n<p><strong>Steady As You Go BoC Could Lift Canadian Dollar<\/strong><\/p>\n<p>The Canadian Dollar could extend gains versus safe haven counterparts following \u00a0positive coronavirus vaccine developments and the BoC\u2019s wait-and-see approach to monetary policy.<\/p>\n<p>The market expects the BoC to hold pat \u00a0on its monetary policy settings at its upcoming meeting.,<\/p>\n<p>Whilst Covid-19 cases have surged in Canada forcing tighter lockdown, robust fiscal support could mean that the BoC sits on the sidelines for now.<\/p>\n<p>At the end November Finance Minister Chrystia Freeland unveiled over C$51.7 billion of additional fiscal stimulus including an enhanced wage subsidy program.<\/p>\n<p>With the imminent rollout of a covid vaccine ether is a good chance that the economic recovery will pick up.<\/p>\n<p>These positive factors may convince the BoC to keep its monetary policy settings steady and in turn put a premium on the cyclically-sensitive CAD.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Progress in US stimulus talks boosted risk sentiment. Bank of Canada\u2019s wait-and-see stance could lift the CAD. USD\/CAD set to \u00a0extend losses as RSI dips into oversold territory. CAD\/JPY eyes move higher as price flirts with key resistance. Equity markets advanced in the Asian session amid progress in US fiscal stimulus negotiations. Australia\u2019s ASX 200 [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":83552,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1694,1381],"tags":[],"class_list":["post-107131","post","type-post","status-publish","format-standard","has-post-thumbnail","category-cad","category-usd"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Steady As You Go BoC Could Lift CAD - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/105006-steady-as-you-go-boc-could-lift-cad\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105006-steady-as-you-go-boc-could-lift-cad\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105006-steady-as-you-go-boc-could-lift-cad\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"Steady As You Go BoC Could Lift CAD\",\"datePublished\":\"2020-12-09T18:21:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105006-steady-as-you-go-boc-could-lift-cad\\\/\"},\"wordCount\":237,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105006-steady-as-you-go-boc-could-lift-cad\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/12\\\/GBP-CAD-Pound-Stronger-Despite.jpg\",\"articleSection\":[\"CAD\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105006-steady-as-you-go-boc-could-lift-cad\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105006-steady-as-you-go-boc-could-lift-cad\\\/\",\"name\":\"Steady As You Go BoC Could Lift CAD - 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