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Why is bull rally climbing on USD/CAD

Friday, May 29, 2015 11:09 AM UTC

The U.S. dollar rose to fresh six-week highs against its Canadian counterpart on Thursday.

US jobless claims rose more than expected.

Expectations for a U.S. rate hike in the near future.

On the flip side, Canada has showed that the current account deficit expanded to C$17.5 billion in the Q1 from C$13.1 billion in the Q4 of 2014.

Bank of Canada (BoC) kept benchmark interest rate on hold at 0.75%.

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Why is bull rally climbing on USD/CAD

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