The Canadian dollar was slightly changed versus the US dollar Monday due to very thin holiday trading and before a jampacked North American economic news.
Investors will await the Bank of Canada’s interest rate decision on Wednesday and 1st quarter economic growth figures due Friday.
Regarding BOC’s decision, expectations are somewhat “firmly for a status quo statement,” said Greg Moore, Senior Currency Strategist at RBC Capital Markets.
The loonie stood at 81.21 US cents from Friday’s 81.29 US cents. Several American and European markets were shut for various holidays, including Memorial Day.
Also this week, traders will also await the durable goods, consumer confidence, services data, and 1st quarter GDP figures in the United States.
The material has been provided by InstaForex Company – www.instaforex.com