The Bank of Canada rate decision is due at 13:00 GMT will undoubtedly make another reference to the strong loonie dampening. But watch for any upgrades in the BoCs GDP growth forecasts. In Jan, the BoC forecasted GDP growth at 2.9% and 3.5% for 2010 and 2011. Daily stochastics in USDCAD treading on bearish ground, with support standing at 1.0070s. EURUSD seen capped at $1.35, which is the support of most of last weeks price action. GBPUSD boosted by higher than expected mar CPI figures, but emerging resistacne standing at $1.5440, hrly trend line from Apr 15 high.
Join the Discussion