{"id":1261,"date":"2010-03-02T13:14:30","date_gmt":"2010-03-02T18:14:30","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=1261"},"modified":"2010-03-02T13:15:27","modified_gmt":"2010-03-02T18:15:27","slug":"bank-of-canada-laments-strong-currency","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2010\/03\/02\/bank-of-canada-laments-strong-currency\/","title":{"rendered":"The Bank of Canada Continues to Lament Its Strong Currency"},"content":{"rendered":"<p>No new news in <a href=\"http:\/\/www.bankofcanada.ca\/en\/fixed-dates\/2010\/rate_020310.html\">the Bank of Canada&#8217;s decision<\/a> to maintain its overnight rate target at 0.25% and to start increasing this rate at the end of next quarter. The Bank of Canada continues to lament the stubborn strength of its currency despite these rock-bottom rates:<\/p>\n<blockquote><p>&#8220;&#8230;the persistent strength of the Canadian dollar and the low absolute level of U.S. demand continue to act as significant drags on economic activity in Canada.<br \/>\n&#8230;The risks to the outlook for inflation continue to be those outlined in the January MPR&#8230;On the downside, the main risks are a more protracted global recovery and persistent strength of the Canadian dollar.&#8221;<\/p><\/blockquote>\n<p>The Canadian dollar has remained resilient throughout the rally of the U.S. dollar since December. USD\/CAD is now near its lows from last year. The currency did not react much to this morning&#8217;s rate decision, but it rallied strongly into the decision. This rally included yesterday&#8217;s announcement that fourth quarter GDP came in at 5.0%, above the 4.2% consensus expectation.<\/p>\n<p><center><br \/>\n<figure id=\"attachment_1262\" aria-describedby=\"caption-attachment-1262\" style=\"width: 515px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2010\/03\/100302_USDCAD.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2010\/03\/100302_USDCAD.jpg\" alt=\"The Canadian dollar remains strong vs. the U.S. dollar\" title=\"The Canadian dollar remains strong vs. the U.S. dollar\" width=\"525\" height=\"298\" class=\"size-full wp-image-1262\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2010\/03\/100302_USDCAD.jpg 525w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2010\/03\/100302_USDCAD-300x170.jpg 300w\" sizes=\"auto, (max-width: 525px) 100vw, 525px\" \/><\/a><figcaption id=\"caption-attachment-1262\" class=\"wp-caption-text\">The Canadian dollar remains strong vs. the U.S. dollar<\/figcaption><\/figure><br \/>\nSource: <a href=\"http:\/\/www.dailyfx.com\/charts\/forexpowerchart\/\">dailyfx.com charts<\/a><br \/>\n<\/center><\/p>\n<p>Be careful out there!<\/p>\n<p>Full disclosure: no positions<\/p>\n","protected":false},"excerpt":{"rendered":"<p>No new news in the Bank of Canada&#8217;s decision to maintain its overnight rate target at 0.25% and to start increasing this rate at the end of next quarter. The Bank of Canada continues to lament the stubborn strength of its currency despite these rock-bottom rates: &#8220;&#8230;the persistent strength of the Canadian dollar and the &#8230; <a title=\"The Bank of Canada Continues to Lament Its Strong Currency\" class=\"read-more\" href=\"https:\/\/drduru.com\/onetwentytwo\/2010\/03\/02\/bank-of-canada-laments-strong-currency\/\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[235,20],"tags":[236,296,1591],"class_list":["post-1261","post","type-post","status-publish","format-standard","hentry","category-canada","category-forex","tag-bank-of-canada","tag-canadian-dollar","tag-u-s-dollar"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Bank of Canada Continues to Lament Its Strong Currency - ONE-TWENTY TWO: Trading Financial Markets<\/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:\/\/drduru.com\/onetwentytwo\/2010\/03\/02\/bank-of-canada-laments-strong-currency\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Bank of Canada Continues to Lament Its Strong Currency - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"No new news in the Bank of Canada&#8217;s decision to maintain its overnight rate target at 0.25% and to start increasing this rate at the end of next quarter. 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The Bank of Canada continues to lament the stubborn strength of its currency despite these rock-bottom rates: &#8220;&#8230;the persistent strength of the Canadian dollar and the ... 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