News & AnalysisCareer
Trading
Explore a wide range of markets with competitive pricing, deep liquidity, and advanced trading tools.
Learn More 
Platform
Trade seamlessly with TMGM's powerful platform, built for speed, precision, and a superior trading experience.
Learn More Trading Platform
Trading Tools
Academy
Learn the fundamentals of trading with beginner-friendly resources, including guides, webinars, and market insights.
Learn More News & Analysis
Get real-time market updates and expert analysis to stay ahead of trading opportunities
Learn More News & Analysis
About
Learn what sets TMGM apart — our global presence, regulatory strength, and commitment to innovation in trading.
Learn More Why Choose TMGM
Sponsorship
BoC’s Macklem plays down fiscal risks while leaving rate hike on the table
Further interest rate rises may be necessary, Bank of Canada (BoC) Governor Tiff Macklem said during an appearance in the House of Commons.
On fiscal policy, Macklem added that he does not believe it is hampering efforts to reduce inflation under current circumstances.
Canadian Dollar Performs Best Against Australian Dollar Today
Today's percentage movements in the Canadian Dollar (CAD) against the major currencies listed are set out below. Its strongest performance was against the Australian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.02% | -0.01% | -0.35% | 0.22% | 0.68% | 0.19% | -0.26% | |
| EUR | -0.02% | -0.03% | -0.37% | 0.19% | 0.68% | 0.17% | -0.30% | |
| GBP | 0.01% | 0.03% | -0.34% | 0.22% | 0.71% | 0.21% | -0.26% | |
| JPY | 0.35% | 0.37% | 0.34% | 0.56% | 1.03% | 0.52% | 0.08% | |
| CAD | -0.22% | -0.19% | -0.22% | -0.56% | 0.48% | -0.03% | -0.48% | |
| AUD | -0.68% | -0.68% | -0.71% | -1.03% | -0.48% | -0.49% | -0.98% | |
| NZD | -0.19% | -0.17% | -0.21% | -0.52% | 0.03% | 0.49% | -0.44% | |
| CHF | 0.26% | 0.30% | 0.26% | -0.08% | 0.48% | 0.98% | 0.44% |
Percentage movements between the major currencies are displayed in the heat map. Select the base currency from the left-hand column and the quote currency from the top row. To read the Canadian Dollar's performance against the US Dollar, for instance, follow the Canadian Dollar row horizontally to the US Dollar column. The figure at that intersection represents the percentage change in CAD (base)/USD (quote).
Bank of Canada: Key Questions Answered
Based in Ottawa, the Bank of Canada (BoC) is responsible for setting Canada's interest rates and conducting monetary policy. Policy decisions are taken at eight scheduled meetings each year, supplemented by emergency meetings when necessary. Maintaining price stability is the BoC's primary mandate, meaning that it aims to keep inflation within a range of 1-3%. Interest rate increases and reductions are its principal means of achieving this goal. A relatively high level of interest rates generally strengthens the Canadian Dollar (CAD), while the reverse also applies. The central bank can also use quantitative easing and quantitative tightening.
When simply cutting interest rates is unlikely to deliver price stability, the Bank of Canada can turn to Quantitative Easing (QE) as a last resort in extreme circumstances. Under QE, the BoC prints Canadian Dollars to purchase assets from financial institutions, typically government or corporate bonds. This policy generally weakens the CAD. During the Great Financial Crisis of 2009-11, the Bank of Canada deployed QE after banks lost confidence in one another's ability to repay debts, causing credit to freeze.
Once an economic recovery is under way and inflation begins to increase, quantitative tightening (QT) reverses the earlier process of QE. Under QE, the Bank of Canada supplies liquidity to financial institutions by purchasing government and corporate bonds from them. With QT, by contrast, the BoC ceases further asset purchases and no longer reinvests principal repayments from maturing bonds in its existing holdings. The effect on the Canadian Dollar is generally positive, or bullish.
POPULAR ARTICLES
1Japanese Yen outpaces peers as hawkish BoJ minutes and US tech sell-off bolster demand2Germany: Orders point to a possible recovery – Commerzbank3United States 4-Week Bill Auction fell from previous 3.91% to 3.89%4BoE recap: Divided rate rise accompanied by warning that energy shock is not over5BoE’s Bailey warns risks to inflation are skewed to the upside6ECB’s Lagarde flags persistent inflation risks amid diverging energy and AI trends7NASDAQ 100 drives Wall Street losses as the AI trade unravels8BoC’s Macklem plays down fiscal risks while leaving rate hike on the table9Fed’s Barkin favours gradual rate rises as inflation remains too high
Connect With Us
Contacts
Phone: +61 2 8036 8388
Fax: +61 2 8036 8388
Email: support@tmgm.com
The information provided on this website is of a general nature only and does not constitute personal financial advice. Before acting on any information on this website, you should consider the suitability of the information in relation to your objectives, financial situation and needs. Investing in CFDs and FX Margin Contracts carries significant risks and is not suitable for all investors. You may lose more than your initial deposit. You do not own, or have, any interest in the underlying asset. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading. It is important that you read and consider the disclosure document before you acquire any product listed on the website. The information and advertisements offered on this website are not intended for use by any person in any country or jurisdiction where such use would be contrary to local laws and regulations. The Products and Services offered on this website are not intended for residents of the United States, Malaysia and Thailand.
TMGM is authorized and regulated in various jurisdictions.
Trademax Australia Limited, trading as TMGM, is regulated by the Australian Securities and Investments Commission (ASIC), AFSL no. 436416 and is located at Level 28, One International Tower, 100 Barangaroo Avenue, 2000 Sydney, NSW Australia.
Email: support@tmgm.com.au
Trademax Global Limited, trading as TMGM, is authorized and regulated by the Vanuatu Financial Services Commission (VFSC), registration number 40356 and registered at 1276, Kumul Highway, Port Vila, Vanuatu, Republic of Vanuatu.
Email: support@tmgm.com
Trademax Global Markets (SE) Limited, trading as TMGM, is authorized and regulated by the Financial Services Authority (FSA) of Seychelles, with license number SD224. The company is registered at Office No 13, Providence Estate ABIS Centre, Mahe, Seychelles.
Email: support@tmgm.com
Trademax Global Markets (International) Pty Ltd, trading as TMGM, is authorized and regulated by the Financial Services Commission, Mauritius (FSC) with license no. GB22201012, and registered at 33, Edith Cavell Street C/o IQ EQ Fund Services (Mauritius) Ltd Port Louis, 11324 Mauritius.
Email: support@tmgm.com
Copyright © TMGM. All rights reserved