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FX Update: Wednesday April 29, 2015

Posted April 29, 2015

Under Economic Issues

The Canadian Dollar continues to climb against the USD reaching the highest levels it has seen since early January. U.S. GDP numbers disappointed this morning showing that the U.S. economy only grew by 0.2% in the first quarter, missing the expectation of growth of 1.0%. These numbers combined with recent weaker than expected U.S. data has cooled the talk of an impending rate increase by the U.S. Fed. A clearer picture of the U.S. Fed's plans going forward will come at 2pm today when the FOMC releases their interest rate statement. Recent increases in oil prices and statements by the Bank of Canada governor Stephen Poloz, have also helped to strengthen the CAD. 

Update Courtesy of Johny Nusbaum | Aloris Mercantile Corp | Toll Free: 1-800-298-1231