BREAKING: Bank of Canada cuts rates by 50 basis points

Bank of Canada decided to deliver a 50 basis points rate cut in an emergency move. Main rate was lowered from 0.75% to 0.25%. The move is aimed at supporting Canadian economy at times of the coronavirus outbreak. Before the cut, Bank of Canada held the highest interest rate among developed countries. USDCAD extended gain on the news and tested 23.6% Fibo level of the downward move started on March 19.

USDCAD tested 23.6% retracement after the Bank of Canada delivered a 50 basis point rate cut. Important resistance zone can be found near the 1.4180 handle. Source: xStation5

BREAKING: US Crude Stocks Rise more than expected
US Jobless Claims Top 2.1M
Coronavirus: market update
Economic calendar: Trump targets social media companies
Morning wrap
When performing transactions in the OTC Forex market, the possibility of making a profit is inextricably linked with the risk of losses.