Watch live: Bank of Canada post-decision press conference – ForexLive

Macklem hosts a press conference

I believe Macklem will be flying solo in this one. USD/CAD is down more than 200 pips now from the pre-decision level and trading at 1.2481. It it closes below 1.2471, it will put a huge bearish reversal on the chart.

USDCAD daily

I expect Macklem to try to lean against CAD strength by emphasizing that QE is ‘at least’ $3B a week but I don’t think he has much of a card to play.

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