The Bank of Canada maintained the overnight rate at 5.0%, while stating that it will continue with Quantitative Tightening (QT). The Bank highlighted the slowing in economic momentum, stating that growth “remained weak and below potential”, while emphasizing that “final domestic demand contracted with a large decline in business investment”. It also stated that “employment […]
After three consecutive daily declines, the Australian Dollar (AUD) traded around 0.6280-0.6270. Despite a broad sell-off in the US Dollar (USD), AUD/USD struggled to gain traction. The US Dollar Index (DXY) slipped to 103.30, its lowest since early October, but the Aussie remained under pressure. Fundamental Factors Affecting AUD Trade tensions weigh on market sentiment, […]
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