The Euro to Canadian Dollar (EUR/CAD) exchange rate gave up
earlier gains on Wednesday afternoon after expectations that the
European Central Bank (ECB) will announce the implementation of a
quantitative easing programme at next week’s monetary policy meeting.
Earlier in the session, the Canadian currency weakened against the Euro as falling oil and metal prices weighed heavily upon the commodity-based currency. Also dragging the ‘Loonie’ lower was news that the World Bank had cut its forecast for global economic growth for this year and 2016.
In its twice-yearly global economic prospects, the World Bank forecasts that the world’s economy will expand by 3% in 2015 and by 3.3% in 2016. The growth prediction was less than the one it made back in June 2014. Back then, the bank had been expecting global growth figures of 3.4% and 3.5% respectively.
Read more Click Here / www.trade4x.net
Earlier in the session, the Canadian currency weakened against the Euro as falling oil and metal prices weighed heavily upon the commodity-based currency. Also dragging the ‘Loonie’ lower was news that the World Bank had cut its forecast for global economic growth for this year and 2016.
In its twice-yearly global economic prospects, the World Bank forecasts that the world’s economy will expand by 3% in 2015 and by 3.3% in 2016. The growth prediction was less than the one it made back in June 2014. Back then, the bank had been expecting global growth figures of 3.4% and 3.5% respectively.
Read more Click Here / www.trade4x.net
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