USDCAD: SHORT [D] [10/07]
USDCAD | Weak CAD | 1.3650 – 1.3250
- The BOC was slightly dovish at the policy meeting and sounded relatively more concerned over downside risks to the outlook from global trade and growth uncertainties, which restrained the CAD.
- BOC may not always follow the Fed in cutting rates, but may do so and is capping CAD strength.
- CAD was supported at 1.3020 at is finding some resistance below 1.3400.
- Key SELL area 1.3385 /1.3315 R70
- The BOC was slightly dovish at the policy meeting and sounded relatively more concerned over downside risks to the outlook from global trade and growth uncertainties, which restrained the CAD.
- BOC may not always follow the Fed in cutting rates, but may do so and is capping CAD strength.
- CAD was supported at 1.3020 at is finding some resistance below 1.3400.
- Key SELL area 1.3385 /1.3315 R70