The Canadian dollar is still kept at a fairly high level against the U.S., despite the fact that economic growth in both countries were lower than projected, which does not confirm talks with investors that the central bank of Canada will continue to raise interest rates. Chairman of the Bank of Canada Mark Carney raised the base interest rate on July 20 to 25%, and investors expect a possible re-raising in September. Nevertheless, foreign exchange analyst RBC did not believe that this slight decrease in economic growth plans violate the Bank of Canada. Thus, according to the bank, we can expect that the rates in Canada continue to rise in contrast to the U.S..

Source: FxTrade.kz - Forex Market News