Overnight Rate (CAD) – 04/03

 

What is it? It checks the interest rate at which major financial institutions borrow and lend overnight funds between themselves.

Short term interest rates are the paramount factor in currency valuation - traders look at most other indicators merely to predict how rates will change in the future.

When? March 4th at 10:00am Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the CAD to rise.

 

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